East End Capital and KBS Capital Advisors put a 21-story rental building in South Williamsburg up for sale.
The two firms bought the 63,866-square-foot property for $40.95 million in January 2014, property records show.
Hodges Ward Elliott’s Will Silverman, Paul Gillen and Daniel Parker are marketing the tower, where rents range from about $2,700 to $3,700.
The former condo building has 66 units, a mix of one- and two-bedroom apartments. It sits on ½-acre of private land with gardens, vegetable patches and a dog park. Developer Michael Zazza built the tower in 2010 and sold it four years later.
HWE’s Parker told The Real Deal that he expects the looming shutdown of the L train between North Williamsburg and Manhattan to continue driving up rents in South Williamsburg, which is serviced by different train lines.424 Bedford is a 5-minute Walk From The Marcy Avenue stop on the J, M and Z subway lines.