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Successful Sale of 130-136 Saint Felix Street in Fort Greene, Brooklyn
Bob Knakal successfully closed the sale of 130-136 Saint Felix Street, a prime development site located in the cultural heart of Fort Greene, Brooklyn. The transaction, which closed on July 8, 2015, highlights the strong demand for development opportunities in one of Brooklyn’s most desirable neighborhoods.
This property stood out due to its 37,500 buildable square feet, proximity to renowned institutions such as the Brooklyn Academy of Music (BAM), and its location near the dynamic Downtown Brooklyn and Fort Greene border.
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Sale Details
The sale of 130-136 Saint Felix Street achieved a price of $5,800,000, translating to $154.67 per buildable square foot.
- Sale Price: $5,800,000
- Buyer: BAM, Gothic
- Seller: Canyon Johnson
- Seller Type: Institutional
- Asset Class: Development
- Closing Date: July 8, 2015
Property Details
Situated on the west side of Saint Felix Street between Lafayette Avenue and Hanson Place, the property benefits from its central position in Fort Greene, steps from Barclays Center and Atlantic Terminal.
- Full Address: 130-136 Saint Felix Street, Brooklyn, NY 11217
- Lot Size: 12,519 SF
- Buildable Square Footage (BSF): 37,500
Key Investment Highlights:
- Exceptional location near BAM Cultural District and Downtown Brooklyn
- 37,500 buildable square feet offering significant development potential
- Large lot measuring 12,519 SF
- Strong submarket with increasing demand for residential and cultural projects
Market Strategy and Positioning
Brooklyn’s real estate market in 2015 was characterized by growing demand for cultural, residential, and mixed-use developments. Fort Greene, with its blend of historic charm and modern amenities, was particularly attractive to developers seeking projects with both community impact and long-term value.
The property’s adjacency to BAM and Barclays Center positioned it as a rare opportunity for a high-profile project in a location that bridges Brooklyn’s cultural and commercial landscapes.
Neighborhood Overview
Fort Greene has long been recognized for its artistic identity, historic architecture, and cultural appeal. The neighborhood is defined by brownstone-lined streets, thriving arts institutions, and a diverse community.
Notable Highlights:
- Cultural District: Home to the Brooklyn Academy of Music, Theatre for a New Audience, and other major arts organizations.
- Transportation Hub: Direct access to Atlantic Terminal, a key transit point linking multiple subway lines and the LIRR.
- Lifestyle Appeal: A mix of historic brownstones, new developments, boutique shops, and dining options.
- Public Spaces: Fort Greene Park offers green space, recreation, and a vibrant community hub.
This combination of culture, connectivity, and character makes Fort Greene one of Brooklyn’s most sought-after neighborhoods for both residential and commercial projects.
Conclusion
The sale of 130-136 Saint Felix Street underscores the enduring appeal of Fort Greene as a development destination. With 37,500 buildable square feet in a cultural hub of Brooklyn, the property represented a unique opportunity for impactful development.
This successful transaction reflects Bob Knakal’s ability to position properties strategically in evolving markets, ensuring the best outcomes for clients and maximum value for their assets.
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Frequently Asked Questions
Q1: What type of property is 130-136 Saint Felix Street?
It is a development site in Fort Greene, Brooklyn, offering 37,500 buildable square feet on a 12,519-square-foot lot.
Q2: What was the sale price of the property?
The property sold for $5,800,000, which equates to $154.67 per buildable square foot.
Q3: Who were the parties involved in the sale?
The buyer was BAM, Gothic, while the seller was Canyon Johnson, an institutional investor.
Q4: Why is the location significant?
The property sits in the BAM Cultural District, just steps from Barclays Center and Atlantic Terminal, making it highly attractive for cultural and residential development.
Q5: What makes Fort Greene appealing for developers?
Fort Greene combines historic brownstones, vibrant cultural institutions, excellent transportation, and strong community appeal, driving both residential and commercial demand.
Q6: What is the development potential of the site?
With 37,500 buildable square feet, the site offers significant opportunities for residential, cultural, or mixed-use projects in one of Brooklyn’s most dynamic neighborhoods.
