BROOKLYN, NY-Marcus & Millichap Real Estate Investment Services has retained the exclusive listing for a 5,011-sf parcel of land in Brooklyn. The listing price is $10.8 million. J.D. Parker, regional manager, tells GlobeSt.com that the buildable square footage on the site is 60,132 sf.

Will Kiersky and Jon Taubes, both investment specialists in the Brooklyn office of Marcus & Millichap, are representing the seller, Albee Square Realty. Parker tells GlobeSt.com that Car Park Systems currently operates the parking lot on the site.

Located at 430 Albee Square W., the 43.8-foot-by-115.5-foot lot is situated in the heart of the Downtown Brooklyn Urban Renewal area. “This is an excellent opportunity for an investor to acquire property in a prime Downtown Brooklyn location, across the street from the Albee Square Mall development,” says Taubes.

There are several new retail, resident and hospitality developments in the area. The property will be delivered vacant, thus making it an excellent development opportunity, Taubes says.

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