Parcel Assemblage Sale Sets East Williamsburg Record for Pricing
Avison Young arranged the $13.5 million sale of a four-lot development assemblage at 873–879 Grand St. in Brooklyn’s East Williamsburg neighborhood. The firm said the sale achieved neighborhood-record pricing of $450 per buildable square foot.
Miles Davis-Bosch, Patrick Madigan, Fritz Richter and Joe Moran of Avison Young represented the seller, JJL Development, in the disposition. The buyer was The Schwimmer Family of Rodgers Development.
“This assemblage achieved record pricing, reflecting both the scarcity of developable sites with over 50’ of frontage and the strength of investor conviction in the area,” said Davis-Bosch. “Premium rents and condo pricing once confined to Northside Williamsburg and Greenpoint are now radiating outward, fueled by demand that continues to outpace new supply.”
Madigan added, “2025 was a standout year for ground-up development sites across Brooklyn, with sales volume surging an astounding 355%. In addition to volume growth, values on a PPZFA basis have climbed dramatically.”
Other News
Legacy Partners Begins Leasing at Ontario Apartments
Legacy Partners has begun leasing at Mill House, a 346-unit apartment community in Ontario. Located at 2510 S. Euclid Ave., Mill House was built in partnership with DWS Group. Initial occupancy is anticipated in December 2026. “Mill House brings thoughtfully designed apartment homes and a wide range of amenities to the heart of the Inland Empire,” said Tim...
Learn more
200-Unit Affordable Housing Project Planned in North Seattle
Affordable housing developer Bellwether Housing and nonprofit Chief Seattle Club will partner on a 200-unit multifamily project in Seattle’s Licton Springs neighborhood. Delivery for the project, called Thunderbird Nest, is scheduled for 2029. The total estimated construction cost is $74.5 million, reported the Puget Sound Business Journal. The majority of the units would be two-,...
Learn more
Howard University, Lowe Break Ground on 504-Unit MF Development
Howard University announced the groundbreaking of The Hazel, a 525,000-square-foot, 11-story multi-family building that will include 504 residential units, approximately 15,000 square feet of retail space, and 246 below-grade parking spaces in D.C.’s Shaw district. The development team includes Lowe, Affinius Capital, FLGA and Davenport Group. The Hazel is a major development for Howard University...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout