Williamsburg Mixed-Use Sale Completes “Round Trip” for Seller
Marcus & Millichap closed the sale of 235-237 Kent Ave., two mixed-use buildings in Brooklyn’s Williamsburg neighborhood, for $16.4 million.
“We are happy to successfully complete a round trip for our seller, whom we previously sold the property for $12.3 million in 2021 during the pandemic,” said Shaun Riney of Marcus & Millichap in New York City. “The property is turnkey and located on the world-class corridor of Kent Avenue. The buyer was completing a 1031 exchange following the sale of a property in downtown Manhattan.”
Riney, Michael Salvatico and Harrison Rich of Marcus & Millichap marketed the property on behalf of the seller. They also procured the buyer.
Built in 1954, the buildings total 13,575 square feet and comprise 14 units, including 12 free-market two-bedroom apartments and two ground-floor commercial spaces. The commercial space is occupied by a restaurant and Ume Sushi.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout