$24M for Medical Offices, Soon to Become Luxury Residential

Developers paid $24 million for 68 Schermerhorn St., a three-story medical office building in Brooklyn’s Boerum Hill neighborhood.

The new owners plan to redevelop the structure into a 12-story luxury residential building with 55 housing units, plus 3,363 square feet of retail space and a fitness center, according to Real Estate Weekly.

Cushman & Wakefield’s Stephen Palmese, Michael Mazzara, Thomas Freeland and James Berluti marketed the building as a development site with 70,000 buildable square feet.

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