Heights Lot Sells for $1,500,000


    It’s not often that a piece of vacant land trades hands in Brooklyn Heights, so it grabbed our attention when we noticed that the lot at 27 Cranberry Street had sold. The 25-by-100-foot lot sits on a quiet, leafy block at the northern end of The Heights. According to Property Shark, it comes with the right to build 6,145 feet of residential space. This puts the purchase price at just under $250 per buildable foot. That actually seems pretty reasonable to us given what a 6,000-square-foot townhouse in perfect condition would cost to build and what it would be worth on the open market. (13 Cranberry, for example, which is only 4,600 square feet, sold for $6,200,000 this summer.) What do you think? GMAP

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