{"id":356634,"date":"2026-09-25T12:18:08","date_gmt":"2026-09-25T12:18:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/356634\/"},"modified":"2026-09-25T12:18:08","modified_gmt":"2026-09-25T12:18:08","slug":"borough-developers-pays-83m-for-downtown-brooklyn-mixed-use-site-news","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/356634\/","title":{"rendered":"Borough Developers pays $83m for Downtown Brooklyn mixed-use site | News"},"content":{"rendered":"<p>US property developer Borough Developers has acquired a mixed-use development site in Downtown Brooklyn from ICER Real Estate for $83.5m (\u20ac73.2m).<\/p>\n<p>In a transaction arranged by <a class=\"intextlink\" href=\"http:\/\/hub.ipe.com\/lasalle-investment-management-real-estate-homepage\/415589.supplier\" rel=\"intextlink_0 nofollow noopener\" target=\"_blank\">JLL<\/a>, Borough Developers bought the Bridge &amp; Fulton Development Site at 485 Fulton Street and 147 Lawrence Street.<\/p>\n<p>The 33,153sqft site currently holds a 139,438sqft building and allows for up to 356,369sqft of zoning floor area, and\u00a0Borough Developers plans to deliver a four-building development featuring ground-floor retail and upper-level residential space.<\/p>\n<p>Michael Mazzara, capital markets managing director, JLL, said: \u201cThis sale speaks to the continued strength of investor conviction in Downtown Brooklyn and, more broadly, the value developers are placing on well-located sites where they can build housing at meaningful scale.<\/p>\n<p>\u201cThere are very few opportunities of this size in a neighborhood with this level of transit access, residential demand and established retail. The combination of scale, location and development flexibility made 485 Fulton particularly compelling.\u201d<\/p>\n<p>To read the latest <a href=\"https:\/\/realassets.ipe.com\/current-edition\" target=\"_blank\" rel=\"nofollow noopener\">IPE Real Assets magazine click here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"US property developer Borough Developers has acquired a mixed-use development site in Downtown Brooklyn from ICER Real Estate&hellip;\n","protected":false},"author":2,"featured_media":356635,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[98,100,99,9,24,63],"class_list":["post-356634","post","type-post","status-publish","format-standard","has-post-thumbnail","category-brooklyn","tag-brooklyn","tag-brooklyn-headlines","tag-brooklyn-news","tag-new-york","tag-new-york-city","tag-nyc"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/356634","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=356634"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/356634\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/356635"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=356634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=356634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=356634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}