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.
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.”
An eight-story mixed-use property in the heart of Midtown Manhattan has been sold for $12.4 million. B6 Real Estate Advisors, which represented the seller, Meir Levy, said the building’s purchaser, Piyush Golia, will be the owner-user. The property at 8 E. 41st St. is on the south side of 41st Street between 5th Avenue and Madison. The building includes 14,000 square feet of office space and 1,550 square feet of retail space.
MMAH LLC has sold two single-story warehouses in Midwood, Brooklyn, for $17 million, according to B6 Real Estate Advisors.
B6, which represented the seller, said buildings included 1490 McDonald Avenue, a 29,500-square-foot warehouse with 2,000 square feet of mezzanine office space, and 1497 McDonald Avenue, a 5,750 square-foot warehouse.