Acquires Development Site In Brooklyn From The University Settlement Society For $12.55M

The property asset involved in the transaction is a development site located at 71 Lincoln Place in Brooklyn. The transaction was completed for a sale price of $12,550,000, with a building square footage (BSF) of 23,000, resulting in a price per building square foot (PPBSF) of $546. The total square footage (SF) of the property is 22,039, which corresponds to a price per square foot (PPSF) of $569.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $12,550,000
• BSF: 23,000
• PPBSF: $546
• SF: 22,039
• PPSF: $569
• Buyer:
• Seller: The University Settlement Society of New York
• Seller's Representative: Daniel Kaplan & Justin Arzi - CBRE

This transaction was facilitated by Daniel Kaplan and Justin Arzi, who represent the seller, The University Settlement Society of New York, through their affiliation with CBRE. The deal was successfully concluded on April 10, 2025, establishing a significant interaction between the buyer and seller in the Brooklyn market.