News:
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.
MORE FROM Brokerage
CM&B completes Activate Games’ NYC debut in Union Square
Manhattan, NY Construction Management and Builders, Inc. (CM&B) has completed construction of Activate Games’ first US flagship store in New York City, transforming a historic Union Square retail destination into a 15,000 s/f active gaming experience where players become part of the game.
Quick Hits
 (2).gif)
Columns and Thought Leadership
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt
You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
Artificial intelligence in lending - by Lindsay Mesh Lotito
Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
.gif)
August Promotion
