Empty Williamsburg Lots Trade for More Than $2M

Two empty and adjoining lots near Union and Grand in Williamsburg have sold for $2,250,000 in cash, according to Massey Knakal, which brokered the deal. The property at 307 to 311 Union Avenue is located between South 1st Street and South 2nd Street east of the BQE. Massey Knakal referred to the area as a “gentrifying corridor that already has numerous popular bars and restaurants as well as several successful condo projects.” The lots, previously used for parking, offer approximately 15,000 buildable square feet. That works out to a sale price of $150 per buildable square foot, according to Massey Knakal. We would guess the next step for this parcel is probably a residential building.
Photo by Massey Knakal  GMAP