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Downtown BK Site Will Become Premier Commercial Space

GFI Realty Services has finalized the $14.8-million sale of 275 Livingston St. (23-25 Hanover Pl.), a development site in the heart of Downtown Brooklyn. The property was sold by Harry Blaustein and purchased by AVEQ 275 Livingston LLC. The GFI team of Yosef Katz and Zachary Fuchs arranged the transaction.

The property is occupied by a vacant, three-story commercial building, and allows for 43,760 square feet of as-of-right development. The buyer plans a redevelopment campaign that will retain part of the existing structure, to recreate the property as a premier commercial facility in Brooklyn’s burgeoning downtown.

“With Brooklyn’s rise already underway for several years, strong development sites are now few and far between, and the buyer was very eager to acquire this redevelopment opportunity,” said Fuchs. “Once completed, the new building should feature both commercial and retail space, and it is poised to help continue the revitalization of Downtown 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 13-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 15-20 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 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).

  • ◦Development
  • ◦Sale/Acquisition
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