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Local News November 26, 2015  RSS feed

Two development sites sold in Bushwick for $2.6M

By Anthony Giudice
agiudice@ridgewoodtimes.com @A_ GiudiceReport


Cushman & Wakefield sold two development sites in Bushwick for $2.6 million: 181 Troutman St. (left) and 303 Stockholm St. (right). 
Photo courtesy Cushman & Wakefield Cushman & Wakefield sold two development sites in Bushwick for $2.6 million: 181 Troutman St. (left) and 303 Stockholm St. (right). Photo courtesy Cushman & Wakefield Two residential development sites in Bushwick, were recently sold by Cushman & Wakefield to 303 S Holdings LLC, a holding company based in Albany, in an all-cash transaction valued at $2.6 million.

One site, at 181 Troutman St., features a two-story, two-unit building that is approximately 2,025 square feet, and was gut-renovated back in 2009. It also benefits from approximately 3,475 additional square feet of air rights.

The other location, 303 Stockholm St., has a vacant, one-story former auto body shop on a 25-foot by 100-foot lot.

Both sites combine for approximately 11,000 square feet of buildable space. The sales price equates to nearly $236 per buildable square foot.

The locations are situated near several public transportation options, including the J, L, M and Z train lines. They are also in close proximity to many of Bushwick’s flourishing art galleries, night life and dining options.