The Brooklyn Eagle reports that New Jersey investment firm Rushbrook Partners of Princeton, have purchased the buildings and vacant lot located at 71, 73, and 75 Pineapple Street in an all cash transaction for $7.4 million.
Brooklyn Eagle: The three lots include one five-story mixed-use building, one five-story multifamily building and a vacant lot between them at 71, 73 and 75 Pineapple St. They were sold in an all-cash transaction valued at $7.4 million, according to broker Brian Leary, who represented the seller, Manmark Realty Corp.
Providing a breakdown, Leary said the two buildings sold for $5,746,250, or $322.82 per square foot; the vacant lot sold for $1,653,750, or $250 per square foot.
Combined, the properties total about 24,415 square feet and offer almost 80 feet of frontage on Pineapple Street. The two buildings have 23 vacant apartments, one vacant retail space and 13 occupied rent-stabilized apartments.
“Brooklyn Heights is a historical neighborhood with a terrific infrastructure,” said Leary. “This is a price point that indicates the value of existing buildings in the Heights.”
Photo: Brooklyn Eagle
