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Transaction Summary:
In August 2013, CGI entered into a project build a 6 unit for-sale condominium development in the desirable Prospect Heights neighborhood of Brooklyn, New York. The project will consist of two buildings (with three stacked condo-units in each building) built on a 5,000 square foot lot. The total projected cost is estimated to be $6.0MM. CGI developed the project with larger two and three bedroom units to appeal to the family oriented demographic of Prospect Heights, a well established neighborhood known for its cultural diversity and tree-lined streets. Based on original projections, St. Marks is expected to generate $9.3MM in total sales proceeds upon project completion.
Transaction Details
| Property Address |
330 St. Marks Ave, Brooklyn, NY |
| Total Estimated Project Cost |
$6,000,000 |
| Asset Type |
Luxury Condominium Building Development |
