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Greystone Trades Newly Built Park Slope Apartments for $40M
Cushman & Wakefield arranged the sale of 223 Fourth Ave., a 48,256-square-foot multifamily property in Park Slope, Brooklyn. The final sale price was $40,000,000.
HUBB NYC acquired the property from Greystone Development. Cushman & Wakefield’s Dan O’Brien, Adam Spies, Adam Doneger and Avery Silverstein arranged the transaction.
“This multifamily project was a labor of love for us as we worked to create an aesthetically pleasing block serving the Park Slope community,” said Thomas Ryan, head of Greystone Development. “It’s a great pleasure to see our efforts come full circle.”
The newly built 13-story property features 63 units, including 18 studios, 34 one-bedrooms, nine two-bedrooms and two duplex units. It’s situated outside the Union Station subway stop.
“Residents will benefit from the asset’s ideal location in the coveted Park Slope neighborhood, with the R train right outside the door,” O’Brien added.
- ◦Sale/Acquisition
