CPEX Completes $6M Sale in South Slope Area of Brooklyn for Condo Development

by Jaime Lackey

NEW YORK CITY — CPEX Real Estate has arranged the $6 million sale of 186-190 21st Street in Brooklyn. The CPEX Development & Conversion Sales Team sold the two adjacent lots to Sterling Town Equities for $300 per buildable square foot — a record price for the Greenwood Heights/South Slope neighborhood. The buyer plans to develop a condominium project on this site. The combined footprint at the sites is approximately 10,017 square feet. The property is zoned R6B with a maximum floor area ratio of 2.0, allowing for a total of 20,034 buildable square feet. The site currently consists of one small office building, delivered vacant, which will be demolished.

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