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879 Grand Street

Avison Young Brokers Miles Davis-Bosch Patrick Madigan Frederick Richter And Joseph Moran Facilitate $13.5M Sale Of Development Site In Brooklyn
SOLDDevelopment Site

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

Frederick Richter

Avison Young

Broker

$506.5M

vol

34 deals

Broker

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