Press Release brought to you by Cushman & Wakefield Capital Markets Group New York

Massey Knakal Retained Exclusively To Sell 2.3-Acre Site In East Williamsburg

02/24/2014

Massey Knakal Realty Services has been retained on an exclusive basis to sell an approximately 170,000 buildable square feet site, located at 191-231 Moore Street. The property runs block through from Seigel Street to Moore Street between White Street and Bushwick Avenue in Brooklyn’s East Williamsburg. The asking price is $35,000,000 or approximately $206 per buildable square foot.

This development opportunity is an approximately 2.3-acre site located in a dual zone of M1-1/M1-2, which permits a total of nearly 170,000 buildable square feet for retail or commercial development.  It features over 1,100 feet of frontage on Moore, Seigel, and White Streets.  The site currently consists of five industrial buildings totaling nearly 47,000 square feet. 

This site is ideally located in East Williamsburg, surrounded by some of the newest and best received restaurants, art galleries, clothing boutiques, music venues, and technology and manufacturing startups. It is conveniently situated one block from the Morgan Avenue L train.

“It is uncommon that a property of this size becomes available for sale.  Featuring over 2.3 acres and 1,100 square feet of frontage, the property is primed for retail reposition in the emerging neighborhood of East Williamsburg,” said Massey Knakal’s Stephen P. Palmese, who is exclusively marketing this property with Mark L. Lively.  “Given the character of the area, this new development has the potential to take full advantage of the trend of artists, galleries, music & recording venues, as well as new tech and manufacturing startups that are massing in the neighborhood. A hotel would no doubt be an appealing option as well,” Mark added.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,700 transactions having a market value in excess of $19 billion.


www.masseyknakal.com

02/24/2014 - 12:56

Source

Cushman & Wakefield Capital Markets Group New York

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