Rockrose Development Acquires Development Site In Brooklyn For $62M

The development site located at 98 Dekalb Avenue in Brooklyn has been sold in a closed transaction. The property encompasses a total of 195,810 square feet and has been acquired by Rockrose Development - Elghanayan Family for a sale price of $62,000,000. The transaction represents a price per buildable square foot (PPBSF) of $317. The asset is a development site, indicating its potential for future construction and expansion.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $62,000,000
• Square Footage: 195,810
• Price per Buildable Square Foot: $317
• Address: 98 Dekalb Avenue, Brooklyn

Brendan Maddigan, Ethan Stanton, Stephen Palmese, Michael Mazzara, Winfield Clifford, and Bob Knakal were the brokers involved in facilitating the transaction. They played a crucial role in bringing together the buyer, Rockrose Development - Elghanayan Family, and the seller, Robert Kotler. Their expertise and negotiation skills contributed to the successful completion of the deal.