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Contiguous Crown Heights Parcels Trade to Development Team

JLL Capital Markets arranged the $25.15-million sale of two residential development sites located at 1029 Dean St. and 1104 Pacific St. in the Crown Heights neighborhood of Brooklyn. The transactions were completed in separate off-market deals.

Mike Mazzara, Ethan Stanton and Brendan Maddigan of JLL Capital Markets represented the sellers in both transactions. They also negotiated directly with the buyer, Brooklyn-based Castell Group and Montgomery Street Partners, who plan to build two large-scale residential projects on the properties.

Combined, the properties total a zoning floor area of more than 129,000 square feet and are currently occupied by commercial properties. The two assets are situated contiguously and are located within the Atlantic Avenue Mixed-Use Plan rezoning that was approved by the New York City Council in 2024 to enable new housing, including affordable units, and promote mixed-use development along the Atlantic Avenue corridor.

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Inside The Story

JLL's Mazzara

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
  • ◦Development
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