Arrow Linen Site in Park Slope Sells for Residential Development

JLL Capital Markets arranged the $55-million sale of 441–467 Prospect Ave., a residential development site in Brooklyn’s Park Slope neighborhood. The team of Mike Mazzara, Ethan Stanton and Brendan Maddigan represented Arrow Linen Supply Company in the sale and negotiated directly with the buyer, Goose Property Management.

The site occupies two lots on the north side of Prospect Avenue between Prospect Park West and Eighth Avenue, near Prospect Park and the 15th Street–Prospect Park subway station. The site offers 271,000 square feet of potential zoning floor area for residential development.

A spokesperson for Arrow Linen said, “Arrow Linen has been proud to call Brooklyn its home since 1947. Recently, after the unexpected passing of our CEO and majority shareholder, the remaining shareholders elected to longer be part of the site’s development. We are confident that the new team will bring badly needed homes, including affordable homes, to Brooklyn.”

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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).

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