411-417 MEEKER LLC paid $8M to MEEKER FLATS LLC

411-417 MEEKER LLC paid MEEKER FLATS LLC $7.5 million for 1 parcel, including the tax class primarily one to six families with stores or offices (S9) and containing 3 residential units at 411 Meeker Avenue in Greenpoint. The deal closed on June 26, 2019 and was recorded on July 12, 2019. The parcel(s) have total development potential of 18,213 square feet.
The average sale price per buildable square foot is $672.
The estimated cap rate is 1.8%
The last time the property sold was March 15, 2018, for $3,200,000.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel. There have been 2 demolition projects filed over the past five years. The demolition included 3 residential units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link