Klein of Kalmon Dolgin arranges sale of 35,000 s/f Brooklyn development parcel

In a transaction valued at $20 million, Kalmon Dolgin Affiliates' Bob Klein arranged the sale of the 35,000 s/f development parcel located at 580 Union Ave. in the Greenpoint neighborhood, according to Neil Dolgin, executive vice president of Kalmon Dolgin. Klein represented the seller, McCarren Park LLC, and the buyer, Heatherwood Properties. Plans for the site include a 6-story residential rental property. Currently home to a series of vacant warehouses and empty lots, the site at 580 Union Ave. encompasses half a city block. "This site presented an incredible opportunity for both the buyer and the seller as contiguous, developable land parcels in Greenpoint are nearly impossible to find," Klein said. "580 Union Ave. offers access to revitalized McCarren Park, the "L" train just one stop from Manhattan and unique shops and restaurants—all within a three block radius, making this the perfect location for residential development. Kalmon Dolgin has specialized in this area of Brooklyn for more than 100 years." Kalmon Dolgin Affiliates is a 104-year-old, Brooklyn-based real estate firm. In addition to providing brokerage and management services, Kalmon Dolgin has acquired $300 million of its own real estate assets within the past year alone, primarily industrial and medical/office properties.