Dumbo Lot Sells for $4.25 Million


Massey Knakal announced the sale of the lot at 55 Pearl Street, on the northeast corner of Pearl and Water Streets in Dumbo. It went for $4,250,000. The lot allows for 24,823 buildable square feet, and the sale came with an additional 3,500 buildable square feet from the adjacent property at 177 Water Street. The developers have not applied for any DOB permits yet, but the lot is in a landmarked district so it may be some time before a development actually goes up. GMAP