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

1490 & 1497 McDonald Avenue
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This Industrial property located in NY was sold for $17,000,000 about 2 years ago. The brokers of the deal were Jermaine Pugh and Bobby Lawrence

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].

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Deals
  • Location
    1490 McDonald Avenue, Brooklyn, NY 112301490 McDonald Avenue, Brooklyn, NY 11230
  • Sale Price
    $17,000,000$17,000,000
    $482 PPSF$482 PPSF
  • Area
    35,250 SF35,250 SF
  • Asset Type
    IndustrialIndustrial
  • Parties
    2 Brokers, 1 Agency2 Brokers, 1 Agency

Agents

Bobby Lawrence

Bobby Lawrence

Deals12
Sold$38.2M

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Deal Summary

SALE IMAGE: Bobby Lawrence & Jermaine Pugh DATE: 12/29/2021 ADDRESS: 1490 & 1497 McDonald Avenue MARKET: Midwood, Brooklyn ASSET TYPE: Industrial BUYER: Allure Group SELLER: McDonald Roofing Supply BROKERS: Bobby Lawrence (@TheLawrenceTeam_NYC) & Jermaine Pugh (@Jermaine.Pugh) - B6 Real Estate SALE PRICE: $17,000,000 SF: 35,250 ~ PPSF: $482 NOTE FROM Bobby Lawrence (@TheLawrenceTeam_NYC): Jermaine & I exclusively represented the seller of 1490 & 1497 McDonald Avenue. By actively targeting end-users & community facility developers we were able to generate over 30 tours, 27 offers & finally execute a deal with the Allure Group, who was able to close 30 days TOE with no contingencies. If you are considering selling & are not marketing your building in a way that attracts end-users, you could be missing out on 10-20% premiums. Feel free to reach out to discuss further! Bobby Lawrence (646) 933-2648 [email protected] Jermaine Pugh (646) 933-2633 [email protected]

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1490 & 1497 McDonald Avenue

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