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Brokerage
Posted: May 26, 2026
Marcus & Millichap facilitates $16 million sale of Brooklyn development site
Brooklyn, NY Marcus & Millichap brokered the sale of 863 Dean St., a development site in the Prospect Heights neighborhood. The asset sold for $16 million.
“By strategically launching post-AAMUP rezoning, we capitalized on critical price discovery to maximize asset value. Our marketing campaign generated rapid, broad-based competition, resulting in 15+ offers within 30 days,” said Matt Fotis of Marcus & Millichap in New York City. “We selected a sophisticated developer capable of unlocking the site’s highest and best use, exceeding all market expectations.”
Fotis exclusively marketed the property on behalf of the seller, a local family, and procured the buyer.
The property consists of a 16,500 s/f lot and is configured as a vacant lot. The site falls within the recently approved Atlantic Avenue Mixed Use Plan Rezoning and is zoned R6A/M1-2A, allowing for residential and mixed-use development. The property offers up to 82,500 buildable s/f.
863 Dean St. is located between Grand Ave. and Classon Ave., five blocks from Barclays Center and Atlantic Terminal, with access to the 2, 3, 4, 5, B, N, D, Q, R and W subway lines and the Long Island Rail Road.
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