Charlotte's Brooklyn Village site sells for $24.3M after foreclosure
The 5.8-acre uptown site, entitled for more than 550 apartments, changed hands twice in two months after Peachtree Group's foreclosure filing.
A 5.8-acre uptown Charlotte development site changed hands twice in two months. First & Early Partners, a local firm, paid $24.3 million on June 29 for the Brooklyn Village parcels at 700 and 800 East Brooklyn Village Avenue, buying from Peachtree Group.
Peachtree had taken the deed from Peebles Corporation in May, after funding $23.8 million to Peebles in 2023 and filing a foreclosure earlier that month, then voluntarily dismissing it before the transfer.
Why it matters
Brooklyn Village is one of uptown Charlotte’s most contested development sites, tied to a long-running public-private effort. A clean sale to a local buyer resets a project that had stalled in distress.
The numbers
The original Phase 1 plan called for 496 market-rate apartments, 56 affordable units at 60% of area median income, and about 20,000 square feet of retail. First & Early has not yet released updated plans.
What’s next
The new owner must decide whether to carry forward the entitled program or reshape it. City officials have signaled the site remains viable for a public-private partnership.