Rockrose Development Acquires Development Site In Brooklyn For $62M
98 Dekalb Avenue
195,810 SF
Summary
The development site located at 98 Dekalb Avenue in Brooklyn has been sold in a closed transaction. The property encompasses a total of 195,810 square feet and has been acquired by Rockrose Development - Elghanayan Family for a sale price of $62,000,000. The transaction represents a price per buildable square foot (PPBSF) of $317. The asset is a development site, indicating its potential for future construction and expansion.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $62,000,000
- Square Footage: 195,810
- Price per Buildable Square Foot: $317
- Address: 98 Dekalb Avenue, Brooklyn
Brendan Maddigan, Ethan Stanton, Stephen Palmese, Michael Mazzara, Winfield Clifford, and Bob Knakal were the brokers involved in facilitating the transaction. They played a crucial role in bringing together the buyer, Rockrose Development - Elghanayan Family, and the seller, Robert Kotler. Their expertise and negotiation skills contributed to the successful completion of the deal.
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