Commercial Property Sales up 14 Percent

Brooklyn commercial property sales are still chugging along, with a 14 percent increase in the number of buildings sold in the third quarter vs. the previous one, according to a report from Massey Knakal. The real estate firm notes that this year’s 389 property sales are the most buildings sold since 2007, excluding the “hyperactivity” of the fourth quarter of 2012 when 581 properties changed hands.

Not surprisingly, the most expensive purchases were development properties. The Lightstone Group’s purchase of 363-365 Bond Street and 400 Carroll in Gowanus set the record for the quarter at $33,150,000. That was followed by Sydell Group‘s $17,000,000 purchase of 93-97 Wythe Avenue, which will eventually be the site of a Freehand hotel.  You can read the rest of the report here.