Cushman & Wakefield today announced that the real estate services firm has been retained on an exclusive basis to market a fully-leased brick loft building for sale, located at 151 Kent Avenue in Williamsburg, Brooklyn.
A Cushman & Wakefield team consisting of Executive Managing Director Brendan Maddigan, Director Ethan Stanton and Associate Director Michael Gigante will be leading the marketing efforts on behalf of the property’s seller.
“Loft buildings of this scale are rarely available in Northside Williamsburg,” said Brendan Maddigan of Cushman & Wakefield. “The site has an impressive 450 feet of combined frontage, 200 of which is block-through along Kent Avenue, offering a prospective retail conversion down the road.”
The 56,550-square-foot property features 46 rent-stabilized units, in addition to 18,850-square-feet of basement space. The units are currently fully-leased, constituting stable cash-flow with considerable future upside. The approximately 34,000 square feet of available residential air rights allows for a possible expansion of rentable floor area.
Located in the heart of Williamsburg’s Northside, the property is situated a block from the waterfront and among the neighborhood’s premier retail stores, restaurants and nightlife locations. The property is walking distance from popular residences including the Austin Nichols House, One North Fourth and Level. It’s also near the upcoming 25 Kent, the neighborhood’s first all-new office building, and the Domino Refinery mega-development. The property is in close proximity to the East Ferry Terminal, the L-train and the proposed Brooklyn-Queens Connector (BQX).
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
