$1,130,000

376 Rockaway Parkway, Brownsville, Brooklyn

The transaction

A two-story brick building on Rockaway Parkway in Brownsville, boarded across the upper floor and sold as a redevelopment rather than as an operating asset. A deal like this turns on what a buyer can do with the shell and how quickly they can do it, so the underwriting is a construction budget and a timeline, not a rent roll. Closed at $1,130,000 in December 2024.

Deal facts