JLL Capital Markets arranged the $121.4-million sale of 47 Hall St., a full-block, 2.6-acre mixed-use development site in Clinton Hill, Brooklyn. Ethan Stanton, Michael Mazzara and Brendan Maddigan completed the sale to locally based YS Developers. The seller was not disclosed.
The site has secured key land use approvals to facilitate a large-scale mixed-use redevelopment. The existing 550,000 gross square footage will be delivered vacant and the site has roughly 650,000 square feet of residential zoning floor area.
YS Developers, which focuses on residential and mixed-use projects across New York City, plans to execute the approved redevelopment, capitalizing on strong housing demand in the Clinton Hill neighborhood and the site’s proximity to the Brooklyn Navy Yard and surrounding growth corridors. The company is currently advancing a notable project at 960 Franklin Avenue in Crown Heights, which is expected to be completed in 2026.
The post YS Developers Acquires Clinton Hill Development Site for $121M appeared first on Connect CRE.
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