Located between Grand and Classon Avenues, the lot is zoned for up to 39,264 buildable square feet.
The lot went on the market in March as the largest townhouse development site currently available in the area. It came with approved plans for eight three-family townhouses.
The seller initially bought the property for $3.4 million in June 2012, according to Massey Knakal’s Stephen P. Palmese, who handled the all-cash transaction. The $7.85 million sales price translates to about $200 per buildable square foot.
Below is an overhead shot of the site, courtesy of Massey Knakal:
Rendering and photo: Massey Knakal