Avery Hall Investments Acquires Development Site In Gowanus/BK For $44.1M

A development site located at 469 President Street in Gowanus/BK has been sold for a sale price of $44,100,000. The property, which covers a total of 97,910 square feet, was initially listed for an asking price of $43,000,000. The sale price resulted in a price per buildable square foot (PPBSF) of $450.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $44,100,000
• Address: 469 President Street
• Market: Gowanus/BK
• Asking Price: $43,000,000
• BSF: 97,910
• PPBSF: $450

The buyer of the property was Avery Hall Investments, represented by Francois Barthelemy. The seller was Cynthia Schlegel. The transaction was facilitated by brokers Brendan Maddigan, Winfield Clifford, Ethan Stanton, Stephen Palmese, and Michael Mazzara from JLL.