Poise Property Group Acquires Development Site In Brooklyn For $7.5M From Michael Weiss

The asset involved in the transaction is a development site located at 36 Frost Street in Brooklyn. The property was sold for a price of $7,500,000, with a building square footage (BSF) of 15,000, leading to a price per building square foot (PPBSF) of $500. The total square footage (SF) is 7,500, resulting in a price per square foot (PPSF) of $1,000.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $7,500,000
• Address: 36 Frost Street
• Market: Brooklyn
• Buyer: Poise Property Group - Val Katayev & Daniel Kaykov
• Seller: Michael Weiss
• Building Square Footage: 15,000
• Price Per Building Square Foot: $500
• Total Square Footage: 7,500
• Price Per Square Foot: $1,000

Val Katayev and Daniel Kaykov of Poise Property Group facilitated this transaction, representing the buyer in the acquisition. The group is actively looking to acquire more development sites in prime neighborhoods after successfully obtaining this site in Prime Williamsburg.