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Brooklyn's Development Sales Triple This Year

By Meredith Hoffman | August 9, 2012 2:19pm

WILLIAMSBURG — Development property sales have tripled this year in Brooklyn reaching $188 million for the first half of 2012, according to Crain's New York.

The 91 development purchases were concentrated in Williamsburg, Greenpoint, Park Slope and Downtown Brooklyn, Crain's reported from a study by the company TerraCG.

The most lucrative sale so far this year was 237 — 241 Bedford Ave., where Millenium Health Foods and the Bagel Store recently left due to skyrocketing rent.

Residential properties also reportedly have seen a 50 percent increase in sales this year in the borough, reaching $1.2 million.