New York & Tri-State | December 22, 2020

JLL Lists 16-Acre Land Parcel, One of NYC’s Largest

JLL has been hired by The National Grid to arrange the sale of a 16-acre land parcel at 2731 W. 12th St. in Brooklyn. Located in an Opportunity Zone and representing nearly 1.5 million buildable square feet, it’s one of the largest undeveloped tracts in New York City.

At one time, the property was home to the Brooklyn Borough Gas Works. Under current zoning, it can be utilized for a wide variety of manufacturing uses, and possibly commercial uses as well.

The JLL Capital Markets team overseeing the sale includes Stephen Palmese, Hall Oster, Brendan Callahan; Braedon Gait, Gabrielle Harvey, Teddy Galligan, Andrew Posil and Jordan Yarboro. The firm’s Max Herzog is overseeing capitalization.

“This is an extraordinary opportunity for investors seeking a truly large-scale development opportunity with flexibility of use in a location that provides easy access to the city’s highways, bridges, airports and mass transit,” said Palmese.

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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 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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