Freeman of Massey Knakal brokers $1.35 million sale of a development

Ken Freeman
Ken Freeman

2 family home rendering
2 family home rendering

Brooklyn, NY Massey Knakal Realty Services has sold a tear-down, 2-family home with plans for new development at 314 12th St. in Park Slope for $1.35 million.

The 25 ft. by 100 ft. property is located on 12th St. between 5th and 6th Aves. It contains 7,500 s/f, and comes with approved plans for a four-unit elevator building. The property sold for $180 per s/f to a New Jersey developer.

"This sale benefited from the existing plans prepared by the seller by shortening the time period for the buyer to get a shovel in the ground," said Massey Knakal broker Ken Freeman, who exclusively represented the seller. "As a result, we were able to achieve a price in excess of our asking price, and above comparable sales in the neighborhood."

Massey Knakal Realty Services was the sole broker.

Front Section - January 22-4, 2008
Submit your video!
Publisher - Front Section
John Picard
John is the Publisher of the monthly Upstate New York section. John has been with the New York Real Estate Journal since 2005. John, born ...
View Profile