MNS closes only Manhattan office

Mid-sized brokerage moves HQ to BK to focus on outer-borough developments

Oct.October 12, 2015 04:00 PM

Sayonara, Manhattan! MNS real estate is leaving the borough behind as it shifts its strategy to focus on new developments in the outer-boroughs.

The mid-sized brokerage vacated its 6,140-square-foot office at 115 East 23rd Street in Gramercy when the lease expired in September, and has moved its corporate headquarters to 102 North 6th Street in Williamsburg.

The exit from Manhattan represents something of a return to roots for MNS, which got its start in 2009 through the merger of Brooklyn-based new-development specialist Developers Group and Manhattan-focused Real Estate Group of New York.

MNS CEO Andrew Barrocas said the “better location” in Williamsburg prompted the move.

In addition to the Brooklyn corporate office, MNS has two retail stores in Kings County: one at 40 North 6th Street near the North Williamsburg ferry stop and another at 165 Bedford Avenue, a block from the L Train stop.

MNS’ footprint on the Manhattan brokerage landscape declined last year as the strategy shift unfolded. Manhattan listing volume dropped 68-percent year-over-year to $8.7 million, according to an analysis by The Real Deal in May 2014.

Later that year the company ranked 8th in a TRD analysis of the city’s new development marketing firms, with 866 units in its portfolio.

MNS launched presales in July at Adam America and the Naveh Shuster Group’s 190 South First Street in Williamsburg. Studios and one-bedrooms in the 32-unit building range from $575,000 to $2 million.

Related Articles

G4 Capital Partners' Robyn Sorid and Jason Behfarin with 200-206 Kent Avenue in Williamsburg (Credit: G4, LoopNet)G4 Capital Partners' Robyn Sorid and Jason Behfarin with 200-206 Kent Avenue in Williamsburg (Credit: G4, LoopNet)

Hager family lands $84M loan for Williamsburg project

34 Union Avenue in Brooklyn (Credit: Google Maps)

Rabsky Group planning another Williamsburg mixed-use project

185 S. Fourth St. and Largo co-founder Nicholas Werner (Credit: Google Maps)

Largo buys another Williamsburg rental building for $32M

106 Prospect Place and 488 13th Street in Brooklyn (Credit: Google Maps)

Park Slope townhouse was Brooklyn’s priciest contract last week

South Carolina town puts moratorium on development (Credit: iStock)

The high cost of low taxes: South Carolina town bans all development for 16 months

Clockwise from left: 168-170 Wythe Avenue, 115 North 6th Street and 129-133 Kent Avenue with L3 Capital's Domenic Lanni (Credit: Google Maps)

L3’s Williamsburg retail properties snag $91M refi

U.S. Rep. Alexandria Ocasio-Cortez and Sunnyside Yards (inset) (Credit: Getty Images and Wikipedia)

AOC resigns from Queens megadevelopment steering committee

250 North 10th Street and TF Cornerstone president Frederick Elghanayan (Credit: Google Maps)

TF Cornerstone pays $140M for Williamsburg multifamily building