NEW YORK CITY—Brooklyn investors Joseph Brunner and Abe Mandel are reportedly in contract to acquire a nearly 40,000-square-foot development site on Wythe Ave. in Brooklyn for approximately $27 million.
The deal with seller Tri-Boro Shelving & Partition Corp. calculates out to almost $700-per-buildable-square-foot, making this one of the neighborhood's priciest development parcel deals ever, according to the Real Deal. Eastern Consolidated's Gabriel Saffiotti and Nicole Rabinowitsch are brokers in the transaction.
The property is zoned for both commercial and residential use. Brunner and Mandel plan a mixed-use development of residential and retail space at the property located at 296 Wythe Ave. and 300-306 Wythe Ave. between Grand and North 1st streets. See story in The Real Deal.
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