360 Livingston Street
Update
08/29/22
Development Site Sells for $25.5M in Downtown Brooklyn
A 5-story mixed-use building, located at 360 Livingston Street in Downtown Brooklyn, has just traded hands for $25.5 million. It was purchased by Goose Property Management from the previous owner, ISJ Management, in a deal brokered by JLL.
Originally constructed in 1920, the pre-war structure contains 22 rental apartments and almost 14,000 square feet of retail space. However, the real value of the property stems from the fact that it's a prime candidate for redevelopment.
With a maximum buildable potential of 188,000 square feet, the fate of the mere, 34,000 square foot structure, is almost certainly evident.
To further confirm this, the purchase also included a smaller neighboring structure, which when combined with 360 Livingston would form a project area, measuring 15,687 square feet. Details on the future project have not been released yet, but the fantastic central location of the property, combined with an untapped goldmine of air rights makes developing these lots a no-brainer.
