Small Lot Sells in Burg, Apartments Likely

An unnamed buyer has bought the empty lot at 224 Richardson Street between Humboldt Street and Kingsland Avenue in Williamsburg close to the Greenpoint border for $450,000 cash, according to Massey Knakal, which brokered the deal. The 25-by-75-foot lot is zoned for residential and allows 3,750 buildable square feet. Massey Knakal pointed out that numerous new construction sites in the area have done well, and said the sales price equates to approximately $120 per buildable square foot. The asking price was $525,000. GMAP