Hanson and Preuss of Massey Knakal broker $1.375 million sale

A development site at 2854-2858 Stillwell Ave., located between Mermaid and Neptune Aves. in the Coney Island neighborhood, was sold in an all-cash transaction valued at $1.375 million. The two lots combined represent 9,515 s/f, allowing for 28,554 buildable s/f of residential use. The lots are currently improved by fully occupied four family buildings. "The property was thoroughly marketed for several months and received approximately a dozen offers," said Massey Knakal first VP of sales Brian Hanson who exclusively handled this transaction with first VP of sales Stephen Preuss. "We were able to achieve approximately $49 per buildable s/f."