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Brooklyn Sees Biggest Single Asset Sale Yet

NEW YORK CITY—A storage space purchased in the Downtown portion of the city's hottest borough will become office space, an asset class mostly lacking in the area.

By Rayna Katz | Updated on March 04, 2015

NEW YORK CITY—In one of Brooklyn’s largest ever single-asset sales, a partnership of Quinlan Development Group and Building & Land Technology has purchased 37-53 Flatbush Ave.—referred to as 41 Flatbush Ave. by the previous owner and also known as 76-92 Rockwell Place—for $90 million. The seller was a partnership between Prudential Real Estate Investors and Extra Space Storage.

Eastern Consolidated‘s Andrew Sasson, director, represented the seller while Ben Tapper, principal and senior director at the real estate services firm, represented the buyer in the off-market transaction. Quinlan and B< plan to convert the property—which is currently being used as a storage facility—into office space, an asset reportedly much needed in Downtown Brooklyn.

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