In 2015, the average residentially-zoned land transaction borough-wide was approximately $6.2 million, a $2 million increase from 2014, and the average price per buildable SF is $202, up 31% from the average price per buildable of $154 in 2014.

Dollar volume of residentially-zoned development sites peaked in 2015, with a total of $2.1B in sales, 10 times the volume in 2010.

Ofer Cohen, Founder & Partner

Development Insights

2015 Avg Sale Price: $6.24m

Average Sale Price by Region

  • Bed-Stuy/Bushwick/Crown Heights $4.01m
  • Central Brooklyn $2.67m
  • East Brooklyn $1.45m
  • Greater Downtown Brooklyn $15.38m
  • North Brooklyn $8.3m
  • South Brooklyn $1.75m
  • West Brooklyn $6.24m

10 Nevins Street Case Study

Ofer Cohen and Melissa Warren, along with their team were the sole brokers in the sale of the development site located at 10 Nevins Street in Downtown Brooklyn.

With over 14,000 residential units in Downtown Brooklyn’s development pipeline at the time of the sale, Team Cohen/Warren had to make sure this nearly shovel-ready site stood out in a congested market.

In a market dominated by rental units, 10 Nevins is positioned to be one of the largest condo projects in Downtown Brooklyn.

Ofer Cohen, Founder & President

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