Josh Goldflam, co-founder & principal of Manhattan based commercial real estate firm
Highcap Group, along with sales associate Ty Gallishaw have arranged the sale of 767
Grand Street and 295 Humboldt Street, Brookyn, New York. The buildings are located in
the WIlliamsburg neighborhood of Brooklyn and recently sold for $1,596,500 in an all cash transaction. The seller was the Huang Family, and the buyer was the Berk Family.
The 2 properties form an L shape around the corner building at the intersection of Grand Street and Homboldt Street in Williamsburg, and only 1 block from the L subway
station. The buildings consist of 2 retail stores plus 1 residential apartment. They have a total of 2,300 gross square feet and additional air rights of 5,945 square feet. The 2 buildings have a total development potential of 8,240 square feet and they were delivered vacant at the time of closing. The purchase price of $1,596,500 equates to $695 per existing sq. foot and $194 per buildable square foot. The property creates a great potential for a future development assemblage with its neighboring properties.
