Brooklyn, N.Y. – July 15, 2025 – Cushman and Wakefield, a global real estate services firm, announced the sale of a prominent Brooklyn development site located at 703 Myrtle Avenue for $10,800,000. Representing one of the most compelling mixed-use development opportunities in the area, the property garnered significant interest during its accelerated four-to-five-week bidding campaign. The site was acquired by Abie Weiss, who plans to develop a mix of condo and rental units on the site. Cushman & Wakefield's Dylan Walsh, Jonathan Squires, Nick Kolbus, and Tyler Morss led the transaction on behalf of the seller, Jake Levy.
“This transaction highlights the value of professional representation in a complex and competitive market like New York City,” said Walsh. “The owners chose our team to spearhead a strategic approach to selling this site. Within weeks, we tapped into our extensive network and executed a robust marketing strategy, resulting in a final sale price that achieved a 6% premium over the broader market.”
Squires added, “The deal underscores robust opportunities for mixed-use development in Brooklyn, with the site's flexibility appealing to a wide range of investors. This corner lot is in a vibrant and growing market, and provides exceptional potential for residential, retail, or mixed-use projects.”
The corner lot spans approximately 8,620 square feet with 36,204 buildable square feet (BSF) under the Mandatory Inclusionary Housing (MIH) zoning district.