EMP Capital Acquires Development Site At 563 Washington Avenue Brooklyn For $7M

The asset involved in this transaction is a development site located at 563 Washington Avenue in Brooklyn. The sale was executed for a total amount of $7,000,000. The buyer, EMP Capital, completed the acquisition using all cash.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $7,000,000
• Buyer: EMP Capital
• Brokers: Shaun Riney, Andrew Bronsteen & Jason Farese - Marcus & Millichap
• Transaction Date: 5/22/2025
• Market: Brooklyn

This transaction involved notable brokerage representation by Shaun Riney, Andrew Bronsteen, and Jason Farese from Marcus & Millichap, who facilitated the deal for the buyer. Their involvement underscores the brokerage's engagement in the process of securing this property acquisition.