Williamsburg Industrial Building Sold By Massey Knakal
An industrial building at 15-19 Wythe Avenue, located on the southeast corner of Wythe Avenue and North 15th Street in Williamsburg, was sold in an all cash transaction valued at $1,500,000.
The one-story property is approximately 5,000 square feet and sits on a 50’ x 100’ lot. The site is located within close proximity to the L and G trains.
“The property and the surrounding pocket of industrial buildings have recently become much more valuable as more creative uses for the space drive up rents and property values,” said Massey Knakal Vice President of Sales Mark Lively who exclusively handled this transaction with Director of Sales Brendan Maddigan. “The sale price for 15-19 Wythe Avenue equates to $300 per square foot which is high for an industrial property but is logical for a property that will be used for retail space,” added Lively.
Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,200 transactions having a market value in excess of $15 billion.