NEW YORK—A block-through development site at 131-137 Emerson Place, located off the corner of Myrtle Avenue in Brooklyn’s Clinton Hill neighborhood, was sold in an all-cash transaction valued at $13 million.
Massey Knakal Director of Sales Stephen Palmese and Senior Associate Winfield Clifford arranged the sale.
The property, located in a C2-4/R7-A zone, contains approximately 176,600 buildable sq. ft., of which 88,300 sq. ft. can be applied towards residential use and 88,300 sq. ft. can be used for a community facility.
The sale was divided between the residential use, which sold for $11 million and the community facility use, which sold for $2 million.