JLL Capital Markets arranged the $25.15-million sale of two residential development sites located at 1029 Dean St. and 1104 Pacific St. in the Crown Heights neighborhood of Brooklyn. The transactions were completed in separate off-market deals.
Mike Mazzara, Ethan Stanton and Brendan Maddigan of JLL Capital Markets represented the sellers in both transactions. They also negotiated directly with the buyer, Brooklyn-based Castell Group and Montgomery Street Partners, who plan to build two large-scale residential projects on the properties.
Combined, the properties total a zoning floor area of more than 129,000 square feet and are currently occupied by commercial properties. The two assets are situated contiguously and are located within the Atlantic Avenue Mixed-Use Plan rezoning that was approved by the New York City Council in 2024 to enable new housing, including affordable units, and promote mixed-use development along the Atlantic Avenue corridor.
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