Greenpoint Props Go for $12.3 Mil

Two big properties in Greenpoint have recently changed hands for a total of $12.3 million dollars, according to a Crain’s article on Friday. 535 Leonard Street, which was once PS 59 and then the home to the Polish Legion of American Veterans, was bought for $2.3 Million and will be converted into an 18-unit condo. “Since Greenpoint was changing from a Polish neighborhood to a more ethnically mixed, younger neighborhood, the Legion thought it would be best to sell the property,” said Neil Dolgin, the VP of the company who represented the Legion, in the Crain’s article. The other site, at 365 Kingsland Avenue, is a 114,000-square-foot development site that will continue to be used as an industrial storage facility. It sold for $10 million.
In Greenpoint Sales, Poles Out, Condos In [Crain’s]
12.3M of Land Sells in Greenpont [The Real Deal] GMAP