NEW YORK CITY-A four-story building at 314 Grand St. in Brooklyn is on the market for sale with the ownership expecting a sale price of approximately $30 million.
The property that features a Bank of America branch and a soon-to-be opened TD Bank branch totals approximately 35,000 square feet and is most known as the site of a former Zarin Fabrics location, according to Crain's New York Business.
The site's allure to investors is its potential for a conversion to residential. Michael DeCheser, a broker at Massey Knakal Realty Services, who is representing the building ownership in the possible sale of the property, says a future residential conversion could include the possible addition of a penthouse floor.
"The building's second floor has 20-foot high ceilings and the floors above that have 15-foot ceiling heights, which would make this a very attractive conversion," DeCheser says. See story in Crain's New York Business.
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