NEW YORK CITY — CPEX Real Estate has brokered the sales of two development sites, totaling 350,000 buildable square feet, in Brooklyn’s Prospect Lefferts Gardens. Hudson Cos. purchased the sites for a combined $23 million and plans to develop 520-unit multifamily property on the sites. In the first deal, Hudson Cos. purchased a five-parcel, 36,430-square-foot site at 1295-1299 Nostrand Ave. and 306-310 Clarkson Ave. for $10 million, or $69 per buildable square foot. The site offers 145,720 buildable square feet. The seller was a family that had owned the properties since the early 1980s. In the second transaction, Hudson Cos. acquired the adjacent properties, 318-350 Clarkson Ave., from Health Science Center at Brooklyn for $13 million, or $65 per buildable square foot. The site offers 200,000 buildable square feet. Sean Kelly, Timothy King and Brian Leary of CPEX represented the sellers in each transaction and procured the buyer.
Hudson Cos. plans to develop two multifamily properties, totaling 520 units, in Brooklyn’s Prospect Lefferts Gardens.
CPEX Brokers Sales of Two Development Sites in Brooklyn to Hudson Cos.
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