A development site located at 511 Meeker Ave. in Greenpoint, Brooklyn has been sold for $1,700,000. The property spans 8,400 square feet, with a price per buildable square foot (PPBSF) of $202. The transaction took place on June 14, 2022.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $1,700,000
• Address: 511 Meeker Ave.
• Market: Greenpoint, Brooklyn
• Buyer: Jacob Kohn & Harold Freund
• Seller: Donna Santiago & Michael Santiago
• Brokers: Derek Bestreich, Luke Sproviero, Donal Flaherty & Corey Haynes - Investment Property Realty Group (IPRG)

This property, situated next to a gas station on Meeker Avenue along the BQE, had a "little E" environmental designation. Investment Property Realty Group (IPRG), represented by Derek Bestreich, Luke Sproviero, Donal Flaherty, and Corey Haynes, engaged the buyer, Jacob Kohn & Harold Freund, who saw the potential in this opportunity. The deal involved overcoming various challenges, ultimately leading to a successful closing.