Large Brooklyn Properties Sold


A garage at 55 to 57 Pearl Street in Dumbo, on the corner of Water, pictured above, just sold in an all cash deal for $4,250,000, reported the New York Observer. The sale was handled by Massey Knakal. The garage will be torn down; the site contains approximately 24,300 buildable square feet. It’s close to the waterfront and also Vinegar Hill. No word yet about how the impact of Hurricane Sandy might affect its prospects; a Massey Knakal exec told the Observer the sale is likely to set off a “wave” of development further into Vinegar Hill. Meanwhile, on the other side of the borough, financially stressed Brookdale hospital sold off a bunch of apartment buildings for $22 million, according to The Real Deal. The four buildings are located in Brownsville and East Flatbush. Buyers were major landlords David Spira and Robert Wolf, The Real Deal reported. The addresses are 7 Hegeman Avenue and 660 East 98th Street in Brownsville, and 505 Rockaway Parkway and 525 Rockaway Parkway in East Flatbush.
Massey Knakal Arranges $4.25M Sale of Dumbo Dev Site [NY Observer]
Brookdale Sells Apartment Buildings for $22M [TRD]
Photo by Scott Bintner for PropertyShark