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Bushwick Development Site to Become Luxury Rentals
Rosewood Realty Group completed the $16.69-million sale of a 130,000-square-foot development site in Bushwick, Brooklyn that is set to become a luxury rental building.
The property at 1333 Broadway and Linden Street is a vacant lot that traded in 2017 for $8.75 million to the current seller, Jeremy Markowitz. He sold it to diversify his portfolio of luxury rental buildings in Harlem and other parts of New York City.
Rosewood’s Aaron Jungreis—a 2020 Top Broker Award winner—represented Markowitz. His colleague Ryan Lai represented the buyer, Erik Ekstein, who plans to develop a luxury residential rental tower.
“This development is part of the ongoing gentrification of Bushwick,” said Lai, who explained that many of the sites on Broadway—especially those close to the J & Z Subway Lines—are being purchased by outside developers. “Bushwick is changing and becoming more of a trendy luxurious neighborhood.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Development
- ◦Sale/Acquisition
