Bridges Development lands retail-office building in Brooklyn for $31M

Bridges Development Group has snagged a three-story retail and office complex in south Brooklyn for $31 million, a third of what it traded for six years ago. The Manhattan-based investor bought the 226,130-square-foot Kingswood Center at 1630 East 15th Street, in Midwood, Crain’s New York reported. The seller was Midland Loan Services, a Kansas-based unit of PNC Bank. The deal, first reported by the Commercial Observer, works out to $137 per square foot. The seller was represented by brokers Ethan Stanton, Michael Mazzara and Brendan Maddigan of JLL. It’s not clear who handled the buyer.  Midland Loan acquired the commercial […]

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