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

January 18, 2008 - Front Section

Ken Freeman

2 family home rendering

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.

More from the New York Real Estate Journal