Kingsland Properties Acquires Development Site In Bed-Stuy, Brooklyn For $2.4M

A development site located at 551 Lafayette Avenue in Bed-Stuy, Brooklyn has been sold for $2,400,000. The property has a lot size of 47.5’ x 100’ (R6B) and a buildable square footage of 9,550. The price per buildable square footage is approximately $251.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $2,400,000
• Address: 551 Lafayette Avenue, Bed-Stuy, Brooklyn
• Lot Size: 47.5’ x 100’ (R6B)
• Buildable Square Footage: 9,550
• Price per Buildable Square Footage: $251

The buyer of the property is Ali Rashid from Kingsland Properties. The seller is Noam Amos. The deal was represented by Shaun Riney, Daniel Greenblatt, and John Lopez from Marcus & Millichap.