$375-per-developable-SF for Greenpoint Site at 167-169 Eagle St

Anthony Morena of Mortar Architecture and Development paid $3.751 million for two adjacent, vacant residential buildings at 167-169 Eagle St. in the Greenpoint neighborhood of Brooklyn. The zoning on the two properties would allow the development 10,000 square feet of residential space.

“This was the second Greenpoint development deal priced above $375 per buildable square foot that our firm brokered in 2017, and we expect to see more transactions at these levels in 2018 as developers continue to realize the incredible upside potential the location offers” said Daniel Tropp for Ariel Property Advisors, which facilitated the transaction. The seller was an undisclosed estate.

The site is close to several new developments, including 533 Leonard St., 170-174 West St., and the Gibraltar Condominiums.

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