Real Estate Weekly
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Deals & Dealmakers Residential

Propspect Park lot hits the sales market

Ariel Property Advisors is marketing a development site at 1 Sullivan Place in the Crown Heights section of Brooklyn for $5 million.

The site (above) has plans for apartment tower (top).

The seller already have plans for an eight-story apartment building on the site with views of Prospect Park. The asking price is $5,000,000.

“1 Sullivan Place offers a magnificent opportunity on one of the last lots available for development on the eastern side of Prospect Park,” said Jonathan Berman, vice president at Ariel, who is working with Mark Spinelli, Daniel Tropp, and Michael A. Tortorici on the deal.

“The current owner created plans for an eight-story, 16-unit multifamily building on the site, which features up to approximately 20,385 buildable square feet on a 40 foot by 82 foot irregular lot.”

The site is near the Franklin Avenue transporthub for the 2, 3, 4, 5, Shuttle trains and the Q and B.

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