A development site located at 500 Kent Ave in Williamsburg, BK has been sold for a price of $50 million. The property, encompassing 2.65 acres, was purchased by the Rabsky Group and Hampshire Properties from ConEdison. The transaction was facilitated by Brendan Maddigan, Stephen Palmese, Ethan Stanton, and Michael Mazzara of JLL. This development site offers an opportunity for future growth and development in the vibrant neighborhood of Williamsburg.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $50M
• Address: 500 Kent Ave
• Market: Williamsburg, BK

Noted as a noteworthy transaction, the sale of 500 Kent Ave attracted attention due to its potential for development and its prime location in Williamsburg. The collaboration between the Rabsky Group, Hampshire Properties, and ConEdison indicates a strategic move in the real estate market. The involvement of Brendan Maddigan, Stephen Palmese, Ethan Stanton, and Michael Mazzara from JLL showcases their expertise in facilitating significant property transactions in the area.