Cushman & Wakefield Arranges $40M Sale of Greystone's 63-Unit Multifamily Asset in Brooklyn

September 27, 2022

Cushman & Wakefield announced today that the real estate services firm has arranged the sale of 223 Fourth Avenue, a 48,256-square-foot multifamily property in Park Slope. The final sale price was $40,000,000.

HUBB NYC acquired the property from Greystone Development. Cushman & Wakefield’s Dan O’Brien, Adam Spies, Adam Doneger and Avery Silverstein arranged the transaction.

“We are thrilled that our close partnership with Cushman & Wakefield has extended to their expert guidance on the sale of our own 223 Fourth Avenue,” said Thomas Ryan, head of Greystone Development. “This multifamily project was a labor of love for us as we worked to create an aesthetically pleasing block serving the Park Slope community. It’s a great pleasure to see our efforts come full circle.”

The 13-story property features 63 units consisting of 18 studios, 34 one-bedrooms, nine two-bedrooms and two duplex units. Residences feature private outdoor spaces, in-unit laundry, walk-in closets, stainless steel appliances, quartz countertops, hardwood flooring and dishwashers. Shared amenities include a lounge with coworking space, rooftop terrace, media room and bike storage.

“The newly-built luxury property features flexible floor plans and best-in-class amenities, including a rooftop deck with incredible Downtown Brooklyn and Manhattan views,” added O’Brien. “Residents will benefit from the asset’s ideal location in the coveted Park Slope neighborhood, with the R train right outside the door.”

The property is in the heart of Park Slope surrounded by an array of local boutiques, breweries and restaurants. The asset is situated outside of the Union Street train station and is minutes away from Atlantic Terminal.

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