Developer Cayuga Capital scooped up mural and outdoor advertisement company Colossal’s warehouse at 85 Wythe Avenue in Williamsburg for $14.5 million, completing the block-long assemblage where it plans to build a 100,000-square-foot office and retail building.
Cayuga has acquired all of the properties along Wythe Avenue between 10th and 11th Streets, including Vice Media’s current offices at 90 North 11th Street. The company has plans to redevelop the combined parcels into an office building, and will break ground later this year.
This was the last remaining piece in putting together the full block-front,” Jamie Wiseman, a principal at Cayuga Capital, told Crain’s. “It will allow us to develop a full frontage of retail along Wythe Avenue.”
Colossal will stay through the end of its lease, which runs for another few years. Vice has plans to relocate to another space on South 2nd Street in Williamsburg.