BP Developer Partners Acquires Industrial Asset In Kensington Brooklyn For $10 Million From Jack Guttman

The property asset involved in this transaction is an industrial property located at 31 Church Avenue in Kensington, Brooklyn. The sale price for this asset was $10,000,000. The property encompasses a building size of 9,880 square feet and boasts a building square footage (BSF) of 35,343, resulting in a price per BSF of $283 and a price per square foot (PPSF) of $1,012.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $10,000,000
• Building Size: 9,880 SF
• BSF: 35,343
• PPBSF: $283
• PPSF: $1,012
• Buyer: BP Developer Partners
• Seller: Jack Guttman - Pearl Realty Management
• Date of Transaction: 08/06/2025
• Market: Kensington, Brooklyn

BP Developer Partners acquired the property from Pearl Realty Management, represented by Jack Guttman. The buyer has outlined intentions for ground-up development on the site, indicating future plans for the property.