Cele Realty I Sells Brooklyn Office Bldg: Fortis Property Grp Purchases Redevelopment Site for $3.5M

Fortis Property Group LLC acquired the property at 30 Henry St. in Brooklyn, NY from Cele Realty I LLC for $3.5 million, or about $555 per square foot.
At the time of purchase there was a single-story, 6,300-square-foot, class C office building on site.

The buyer has demolished the building and plans to construct a five-story, approximately 16,740-square-foot residential condominium building New York real estate, urban condominiumsconsisting of six units.

Stephen Palmese, Winfield Clifford and Michael Mazzara with Massey Knakal Realty Services represented the seller. The buyers were self-represented in the deal.

Please refer to CoStar COMPS #2315258 for more information on this transaction.

CoStar Group, By Scott Layton – June 26, 2012