Mixed-Use Property in Williamsburg Sells for $4.75M
B6 Real Estate Advisors brokers Thomas A. Donovan, Robert Moore, and Bryan Kirk sell 9,500 SF mixed-use property in Williamsburg for $4.75M.
B6 Real Estate Advisors brokers Thomas A. Donovan, Robert Moore, and Bryan Kirk have closed on the sale of a mixed-use property located at 372-376 Union Avenue in Williamsburg, Brooklyn. The property was sold on behalf of the Andosca Family for 4.75M, or approximately 500 per square foot.
The property is a three-story building with a total of 9,500 square feet of space. The ground floor is currently leased to a retail tenant, while the upper floors contain residential units. The property is located in the heart of Williamsburg, a neighborhood known for its trendy restaurants, bars, and shops, as well as its proximity to Manhattan.
The buyer and seller were not disclosed, but the brokers noted that the property generated significant interest from a variety of investors. The sale price represents a strong return on investment for the seller, who had owned the property for several years.
Thomas A. Donovan, one of the brokers on the deal, commented on the sale, saying, “We are pleased to have been able to secure a strong price for our client on this well-located mixed-use property. The demand for properties in Williamsburg remains high, and we expect to see continued interest from investors in this area.” Donovan was joined on the deal by Robert Moore and Bryan Kirk.
The sale of 372-376 Union Avenue is just the latest in a string of high-profile deals in the Williamsburg area. The neighborhood has seen significant development in recent years, with a number of new residential and commercial projects underway. As demand for space in the area continues to grow, brokers like Donovan, Moore, and Kirk are well-positioned to capitalize on the trend and help their clients achieve strong returns on their investments.