Prospect Heights site sells for $1.23 million

A 14,000-square foot residential development site at 268-270 St. Marks Avenue in Prospect Heights, Brooklyn, was sold today for $1.23 million by commercial brokerage TerraCRG, for more than $85 per square foot. The property, off of Vanderbilt Avenue, is comprised of two tax lots, with zoning which allows for over 14,000 buildable square feet. According to Melissa DiBella, vice president at TerraCRG, there was a bidding war between interested buyers. “Condos in the neighborhood have been selling steadily despite the recession and developers are well aware and focusing in on Prospect Heights,” she said. TRD

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