Two-story Williamsburg commercial building listed for $42 million

A completely renovated Williamsburg commercial building with eleven retail units is on the market for $42 million. 

The two-story, 35,000-square-foot commercial building, located at 87 Wythe Ave., is split into 11 units with nine retail tenants ranging from high-end retailers, food and beverage and a fully leased co-working space. 

Paul Massey, Christian Kane, DJ Johnston, Bryan Kirk and Robert Moore of B6 Real Estate Advisors are representing the seller.

Lack of clarity around 421-a could delay further Mott Haven development, broker says

Mitchel Flaherty, a broker for B6 Real Estate, is expecting tough times ahead as the 421-a tax abatement is set to expire on June 15 without an immediate replacement in sight. “Fewer properties are going to be trading hands as developers try to figure out their next steps,” Flaherty told the New York Business Journal. “It’s just too expensive for many developers to develop without the 421-a abatement.”

Reshaping Brooklyn: The Gowanus Rezoning

Experts size up the impact on New York City’s most populous borough. Late last year, the New York City Council approved the Gowanus Neighborhood Plan, the largest rezoning falling under former Mayor Bill de Blasio’s administration. Roughly 700,000 square feet of office space is slated to come online in the market, Bobby Lawrence, director of investment sales at B6 Real Estate Advisors, told Multi-Housing News.

College Point office and industrial building on sale for $22.8 million

A multimillion-dollar, four-story office building just hit the market in College Point.

New York-based real estate company B6 Real Estate Advisors announced that 129-09 26th Ave. is currently on sale for $22.8 million. The 63,260 square foot building includes 44,095 square feet of office space and 19,165 square feet of industrial space according to the company.

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