A vacant lot on Schermerhorn Street in Downtown Brooklyn is up for grabs, and of course it is being marketed as just the perfect place for a new batch of condos. Located at the corner of Hoyt Street, the development site can hold a 75,000-square-foot, 140-foot tall residential building. Developer Nicholas Cammarato bought the site two years ago, and according to Crain's, he's looking to sell it for about $30 million, nearly double the price he paid. There are a bunch of other new developments nearby, so whoever snaps it up will be in good company.
Downtown Brooklyn is booming with new apartment buildingssome 14,000 new units are in the pipelinebut most of these are rentals, but the condos that have debuted sold quickly, so there's clearly demand to be had.
· If This Downtown Brooklyn Vacant Lot is Sold for $30M, a Pricey Condo Will Likely Rise There [Crain's]
· All Downtown Brooklyn coverage [Curbed]