Marcus & Millichap Brokers $7M Sale Of Development Site At 918 Atlantic Avenue Prospect Heights

The asset involved in the transaction is a development site located at 918 Atlantic Avenue in Prospect Heights, Brooklyn. The site encompasses 8,282 square feet and has a sale price of $7,000,000. It allows for up to 74,538 buildable square feet with the option for an inclusionary housing bonus, presenting significant development opportunities.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $7,000,000
• Address: 918 Atlantic Avenue
• Market: Prospect Heights, Brooklyn
• Buildable Square Feet: 74,538
• Price per Buildable Square Foot: $94
• Square Footage: 8,282
• Price per Square Foot: $845

The transaction was brokered by Andrew Bronsteen, Shaun Riney, and Jason Farese from Marcus & Millichap, representing the buyer and seller in this deal. Their involvement reflects the company's strong presence in the Brooklyn real estate market.