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Record Sale in Boerum Hill Will Result in Morris Adjmi Condos

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472 Atlantic Avenue sold in July for just over $18 million, which, at $373 per buildable square foot, represents "the highest price per buildable square foot ever paid for a large development site of this size in Brooklyn" according to brokerage Massey Knakal. In addition, the developers purchased air rights from adjacent buildings. At that price point, "you have to build condos," the broker who handled the sale said, and this morning architect Morris Adjmi filed plans for a seven-story condo building with 31 units and just under 57,000 square feet of residential space (averaging a little more and 1,800 square feet per unit). There will also be a commercial component. The developers are Avery Hall Investments and Aria Development Group.
· Revealed: Morris Adjmi-Designed Condos at 472 Atlantic Avenue, Boerum Hill [YIMBY]