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

Massey Knakal Retained Exclusively To Sell The Former William Ulmer Brewery - Mixed-Use Conversion Site In North Bushwick

09/04/2014

Massey Knakal Realty Services has been retained on an exclusive basis to sell the former William Ulmer Brewery, a mixed-use conversion opportunity at 81 Beaver Street.  Originally built in 1876, the building is located on the corner of Beaver and Belvidere Streets in North Bushwick, Brooklyn, an area that was once known as “Brewers’ Row.” Ownership is requesting proposals. 

The four-story building contains approximately 56,649 square feet, 39,126 of which is above grade, and sits on a 152’ x 137’ irregular lot. The property is L-shaped with over 152 feet of frontage on Beaver Street and over 136 feet on Belvidere Street, providing considerable light and air. The building includes a below grade three-story cellar and benefits from a partial residential variance approved in 2002, allowing for up to 20,885 square feet of residential development/conversion across a portion of the second floor and entirety of the third and fourth floors. The remaining 35,764 square feet will remain for commercial use, including but not limited to creative office space or hotel conversion.

The building is located four blocks from the J, M and Z train lines at both Flushing and Myrtle Avenues and is within walking distance from the L train at Morgan Avenue. The subject property is also directly across the street from Rheingold Gardens on Bushwick Avenue and just blocks from the newly approved Rheingold Brewery Development project, slated to bring roughly 1,000 new residential units to the immediate neighborhood.

“This quintessential, Bushwick loft warehouse is in a phenomenal location and begging for the right developer to adapt this special property to its full potential,” said Massey Knakal’s Michael Amirkhanian, who is exclusively marketing this property.

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

09/04/2014 - 08:21

Source

Cushman & Wakefield Capital Markets Group New York

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