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Marcus & Millichap Brokers Sell Development Site In Greenpoint, Brooklyn For $1.625M

68 Commercial Street
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This Development Site property located in NY was sold for $1,625,000 over 2 years ago. The brokers of the deal were Samuel (Sam) Leppo, Shaun Riney, and Michael (Mike) Salvatico

A development site located at 68 Commercial Street in Greenpoint, Brooklyn, was recently sold off-market. The property is zoned M1-2/R6, MX-8, and offers a total buildable square footage of 5,256. The transaction involved the sale of the property by The Balamut Family for a price of $1,625,000 at a price per buildable square footage of $309.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $1,625,000
  • Address: 68 Commercial Street
  • Market: Greenpoint, Brooklyn
  • Asset Type: Development Site
  • Zoning: M1-2/R6, MX-8
  • Seller: The Balamut Family
  • Brokers: Shaun Riney, Mike Salvatico & Sam Leppo - Marcus & Millichap
  • Buildable Square Footage: 5,256
  • Price per Buildable Square Footage: $309

Shaun Riney, Mike Salvatico, and Sam Leppo from Marcus & Millichap represented the seller, The Balamut Family, in this transaction.

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Deals
  • Location
    68 Commercial Street, Greenpoint, Brooklyn, NY, USA68 Commercial Street, Greenpoint, Brooklyn, NY, USA
  • Sale Price
    $1,625,000$1,625,000
    $309 PPSF$309 PPSF
  • Area
    5,256 SF5,256 SF
  • Asset Type
    Development SiteDevelopment Site
  • Parties
    3 Brokers, 1 Agency3 Brokers, 1 Agency

Agents

Samuel (Sam) Leppo

Samuel (Sam) Leppo

Deals55
Financed$266.4M

Shaun Riney

Shaun Riney

Deals264
Financed$1.4B

Agency

Marcus & Millichap

Marcus & Millichap

Agency
Deals7003
Volume$66B

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Deal Summary

SALE IMAGE: Sam Leppo, Shaun Riney & Mike Salvatico DATE: 11/09/2021 ADDRESS: 68 Commercial Street MARKET: Greenpoint, Brooklyn ASSET TYPE: Development Site ~ ZONING: M1-2/R6, MX-8 SELLER: The Balamut Family BROKERS: Shaun Riney (@ShaunRiney1), Mike Salvatico (@MikeSalvatico) & Sam Leppo (@Leppo.CRE) - Marcus & Millichap SALE PRICE: $1,625,000 BSF: 5,256 ~ PPBSF: $309 NOTE: This property was sold off-market.

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68 Commercial Street

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