Huge Waterfront Parcel Sells for $91.5 Million

A gigantic industrial lot on the waterfront in Greenwood Heights has sold for a whopping $91,500,000, The Real Deal reported. The parcel at 75 20th Street is 690,000 square feet and includes 32 commercial units. Seems like this industrial area between Sunset Park and Red Hook could be getting hot as areas nearby take off. Earlier this week we reported on a demo of a power plant here, and the waterfront area just below in Sunset Park, which contains Industry City as well as city land, is poised for redevelopment, including a public park. A kitchen supply center at 75 19th Street, on the same block, sold for $19,000,000 this month, the story noted. Rents in Gowanus, also nearby, have increased 15 to 20 percent since Whole Foods said they were moving in. This parcel could be converted to offices, but is very unlikely to be rezoned for residential, according to the Real Deal.

Brooklyn Waterfront Site Trades for Sky-High $92M [TRD]
Photo by Kate Leonova for PropertyShark