Allure Group Acquires Industrial Property In Midwood, Brooklyn For $17M

An industrial property located at 1490 & 1497 McDonald Avenue in Midwood, Brooklyn has been sold for a total price of $17,000,000. The property spans a total of 35,250 square feet, resulting in a price per square foot of $482. The sale was facilitated by Bobby Lawrence and Jermaine Pugh of B6 Real Estate, who represented the seller, McDonald Roofing Supply. The buyer in this transaction was Allure Group.

Summary of transation details

• Property Type: Industrial
• Transaction Amount: $17,000,000
• Square Footage: 35,250
• Price Per Square Foot: $482
• Address: 1490 & 1497 McDonald Avenue
• Market: Midwood, Brooklyn

Bobby Lawrence and Jermaine Pugh successfully marketed the property, attracting over 30 tours and 27 offers from end-users and community facility developers. Ultimately, a deal was closed with the Allure Group, who demonstrated the ability to close within 30 days without any contingencies. This highlights the importance of targeting potential buyers and properly marketing a building to maximize premiums, as sellers who fail to do so could potentially miss out on 10-20% higher sale prices.

If you're considering selling a property and want to ensure you attract the right buyers and achieve the best possible sale price, feel free to reach out to Bobby Lawrence at (646) 933-2648 or [email protected], or contact Jermaine Pugh at (646) 933-2633 or [email protected].