Interborough Developmental & Consultation Center Purchases Mixed-Use Building In Homecrest, Brooklyn For $4.9M

The property at 1670-1678 East 17th Street in Homecrest, Brooklyn, was recently sold for a record-breaking price per square foot in the South Brooklyn submarket. The mixed-use asset, spanning 10,889 square feet, was primarily vacant at the time of the transaction. The sale price reached $4,900,000, equating to a price per square foot of $450.

Summary of transation details

• Property Type: Mixed-use
• Transaction Amount: $4,900,000
• SF: 10,889
• PPSF: $450
• Address: 1670-1678 East 17 Street, Homecrest, Brooklyn
• Market: South Brooklyn

The buyer in this transaction was Interborough Developmental & Consultation Center, while the seller was the Notias Family. The deal was facilitated by brokers Jakub Nowak and Jesse Kay from Marcus & Millichap. The sale of this mostly vacant office building set a new price record for similar properties in the South Brooklyn submarket.

For more information about the value of your property or portfolio, or to discuss this transaction further, please contact Jakub Nowak at (718) 475-4353.