Avison Young Brokers Miles Davis-Bosch Patrick Madigan Frederick Richter And Joseph Moran Facilitate $13.5M Sale Of Development Site In Brooklyn
879 Grand Street
$13,500,000
$1,148/SF
Building Size
11,755 SF
Asset Type
Development Site
Closing
Feb 16, 2026
AI
The property asset involved in this transaction is a development site located at 873-879 Grand Street in Brooklyn. The sale price of the property was $13,500,000, with a zoning floor area of 30,000 square feet, resulting in a price per square foot of $450.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $13,500,000
- Zoning Floor Area: 30,000 sq ft
- Price per Square Foot: $450
- Address: 873-879 Grand Street
- Market: Brooklyn
The transaction was represented by brokers Miles Davis-Bosch, Patrick Madigan, Frederick Richter, and Joseph Moran from Avison Young, highlighting a collaborative effort among experienced professionals in facilitating the sale.
Players
Brooklyn Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93