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Ariel Brings Downtown Brooklyn Parcel to Market

Ariel Property Advisors has been hired to sell 285-287 Livingston St., a development site at the center of Downtown Brooklyn. Ownership is requesting proposals for the favorably-zoned block-through property.

The site has a footprint of 5,000 square feet, with an FAR of 10.0 for use as a residential, community facility, office and/or hotel. By utilizing an inclusionary housing bonus, which increases the total FAR to 12.0, the maximum potential buildable area ranges between 60,000 and 66,000 square feet.

Sean R. Kelly, Michael A. Tortorici and David Khukhashvili of Ariel are representing the seller.

“There are only a handful of development sites readily available in Downtown Brooklyn, and demand remains strong,” said Kelly. “Despite some chatter about an ‘oversupply’ of rentals and condos, Downtown Brooklyn’s residential market continues to deliver peak pricing.”

Any absorption concerns “will be short-lived as there is not a deep pipeline, particularly for condominiums,” he added.

For comments, questions or concerns, please contact Paul Bubny

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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).

  • ◦Development
  • ◦Sale/Acquisition