Arrow Linen Site in Park Slope Sells for Residential Development
JLL Capital Markets arranged the $55-million sale of 441–467 Prospect Ave., a residential development site in Brooklyn’s Park Slope neighborhood. The team of Mike Mazzara, Ethan Stanton and Brendan Maddigan represented Arrow Linen Supply Company in the sale and negotiated directly with the buyer, Goose Property Management.
The site occupies two lots on the north side of Prospect Avenue between Prospect Park West and Eighth Avenue, near Prospect Park and the 15th Street–Prospect Park subway station. The site offers 271,000 square feet of potential zoning floor area for residential development.
A spokesperson for Arrow Linen said, “Arrow Linen has been proud to call Brooklyn its home since 1947. Recently, after the unexpected passing of our CEO and majority shareholder, the remaining shareholders elected to longer be part of the site’s development. We are confident that the new team will bring badly needed homes, including affordable homes, to Brooklyn.”
Other News
Family Office Acquires Fresno Apartments from Long-Term Owner
Northmarq’s Fresno Investment Sales team, led by Robin Kane and Brendan Kane, brokered the $2.23-million sale of 1550 W Swift Ave., an 18-unit multifamily property located at 1550 W. Swift Ave. in Fresno. The Northmarq team represented the seller, a Colorado-based family office. The buyer was a local family office. “This was an asset held by...
Learn more
Pennrose Breaks Ground on Lenox Affordable Project
Pennrose broke ground on 238 Pittsfield Rd. a 68-unit affordable rental community in Lenox, MA. The community will consist of 10 residential buildings offering a mix of 23 one-bedroom, 38 two-bedroom, and seven three-bedroom apartments. Of the 68 total homes, 57 will be affordable for households earning from 30% of the Area Median Income (AMI)...
Learn more
Judge Orders Mamdani Administration Back to Square One on Pied-a-Terre Tax Rollout
A New York Supreme Court judge on Staten Island ruled on Tuesday that the Mamdani administration must cancel 17,000 notices mailed to homeowners warning them that they faced a second-home surcharge. According to the City Reporter, Judge Wayne Ozzi ordered the Department of Finance to first examine “any and all resources and information available” before...
Learn more
Brokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout