Goldflam and Gallishaw of Highcap sell mixed-use buildings for $1.596m

 

 

Brooklyn, NY Josh Goldflam, co-founder and principal of Manhattan-based commercial real estate firm Highcap Group, along with sales associate Ty Gallishaw have arranged the sale of 767 Grand St. and 295 Humboldt St. The buildings are located in the WIlliamsburg neighborhood, and sold for $1.596 million in an all-cash transaction. The seller was the Huang family, and the buyer was the Berk family.

The two properties form an L shape around the corner building at the intersection of Grand St. and Homboldt St., and one block from the L subway station. The buildings consist of two retail stores plus one residential apartment. They have a total of 2,300 gross s/f and additional air rights of 5,945 s/f. The buildings have a total development potential of 8,240 s/f and they were delivered vacant at the time of closing. The purchase price equates to $695 per existing s/f and $194 per buildable s/f.

The property creates a great potential for a future development assemblage with its neighboring properties.