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

Massey Knakal Retained Exclusively To Sell Prime Commercial Development Sites In Williamsburg

07/07/2014

Massey Knakal Realty Services has been retained on an exclusive basis to sell two development sites located at 204-206 and 184-186 Bedford Avenue. The sites are being offered individually.

184-186 Bedford Avenue, located between North 6th and North 7th Streets, is an approximately 6,400 square foot development site which offers 40 feet of frontage.  The asking price for this site is $19,500,000.

204-206 Bedford Avenue, located between North 5th and North 6th Streets, is an approximately 7,500 buildable square foot development site which offers 50 feet of frontage.  The asking price for this site is $22,900,000.

Both sites are located on the best retail corridor in Williamsburg, have no encumbering leases, and are situated within one block of the Bedford Avenue L train station.  The ability to construct a retail driven project in arguably Brooklyn’s most exciting submarket makes these two sites exceptional opportunities.

“Retail rents on Bedford Avenue have more than tripled since 2008 to levels in excess of $300 per square foot and sites on Bedford Avenue are rarely on the market,” said Massey Knakal’s Mark L. Lively, who is exclusively marketing these sites with Brendan T. Maddigan. “There are only eight other properties between North 4th and North 10th Streets that have over 40 feet of frontage on Bedford Avenue, and only three of those properties also have a lot size of over 3,000 square feet, which are requirements for many of the best retailers in the country,” added Maddigan.

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

07/07/2014 - 11:39

Source

Cushman & Wakefield Capital Markets Group New York

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