New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Development Site in Brooklyn Tech Triangle Fetches $26M
JLL Capital Markets closed the $25.5-million sale of a potential development site spanning 358-376 Livingston St. and 60 Flatbush Ave., a 40,000-square-foot mixed-use portfolio zoned for residential and commercial development within the Brooklyn Tech Triangle. The site represents an opportunity to develop up to 188,000 buildable square feet of mixed-use space in downtown Brooklyn.
JLL arranged the sale on behalf of the long-term owner, Livingston Street Realty Associates. The buyer was Brooklyn-based Goose Property Management.
The JLL Capital Markets team that handled the transaction included senior managing directors Stephen Palmese and Brendan Maddigan, managing directors Michael Mazzara, Winfield Clifford and Ethan Stanton and VP Patrick Maddigan.
“The Brooklyn Tech Triangle has seen an influx of office, hotel and retail developments, making it the largest and fastest growing neighborhood in the borough, and home to an increasingly diverse and educated population,” said Palmese.
- ◦Sale/Acquisition
