Marcus & Millichap Brokers Sale of Two Development Sites in Brooklyn’s Ocean Hill Neighborhood

NEW YORK, Nov. 13, 2025 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of two adjacent development sites located along Atlantic Avenue in Brooklyn's Ocean Hill neighborhood. The portfolio consists of 2425 Atlantic Avenue and 2413 Atlantic Avenue, which together offer more than 142,000 buildable square feet within a Mandatory Inclusionary Housing district that also benefits from the City of Yes zoning initiative. The properties sold for a combined total of $11,691,875.

"Demand for well-located development opportunities in Brooklyn continues to accelerate, particularly in transit-oriented corridors positioned to benefit from the City of Yes zoning overhaul," said Matthew Peters in Marcus & Millichap's Manhattan office. "At the same time, rent restrictions and elevated construction and labor costs remain real challenges for private developers and investors. However, we're seeing a meaningful push toward city funding initiatives and public-private affordable housing partnerships to help bridge that gap."

Peters represented the sellers of each property and procured the buyer, a local private investor.

The adjoining properties at 2425 and 2413 Atlantic Avenue are both industrial warehouse sites on corner lots in Brooklyn's Ocean Hill neighborhood, that benefited from a rezoning in 2016, one block from Broadway Junction, a major transit hub connecting five subway lines and the Long Island Rail Road.

"This portfolio offers a rare combination of scale, zoning flexibility, and long-term neighborhood momentum, making it a compelling generational development opportunity," added Peters.

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit https://www.MarcusMillichap.com.