National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
CBRE Arranges Parcel Sale in Atlantic Ave. “Growth Corridor”
CBRE has arranged the $16.75-million sale of a mixed-used, transit-oriented development site at 2840 Atlantic Ave. in Brooklyn’s East New York neighborhood. The parcel included three lots totaling 43,000 square feet, and two industrial buildings comprising 76,000 square feet. The new development will include up to 274,000 square feet of new residential and retail space.
A CBRE team of Elli Klapper, Charles Berger and Jay Gelbtuch completed the sale on behalf of LSC Development, and also procured the buyer.
“This was the largest, most significant sale in East New York since the rezoning of Atlantic Avenue, which has addressed the affordable housing shortage and is helping to reshape this area of Brooklyn,” said Klapper.
Strategically located within the Atlantic Avenue “growth corridor” in the recently-approved rezoning district, the 2840 Atlantic properties were built in the early 1900s and housed the Empire State Dairy Company until the mid-20th Century.
Don’t miss Connect National Investment & Finance on Oct. 18 to hear what industry leaders and major stakeholders have to say about the state of the market and what’s next in this current cycle. Click here to register.
For comments, questions or concerns, please contact Paul Bubny
- ◦Development
- ◦Sale/Acquisition
