Beard Street Acquisition Sells Industrial Property In Redhook, Brooklyn For $34M

The property involved in this transaction is an industrial asset located at 110 Beard St., Redhook, Brooklyn. The sale was executed for a total price of $34,000,000, covering a total area of 75,000 square feet, which translates to a price per square foot of $453.33.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $34,000,000
• Square Footage: 75,000
• Price per Square Foot: $453.33
• Seller: Beard Street Acquisition - Abe Leser
• Broker: David Junik - Pinnacle Realty Of New York
• Date of Transaction: 08/09/2022

The deal was brokered by David Junik, representing Pinnacle Realty Of New York. The institutional buyer intends to redevelop the property into a first-class mid-size logistic facility that will include parking accommodations. Pinnacle Realty Of New York has been actively involved in the market, having sold or leased over a million square feet recently.