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Williamsburg loft building with expansion potential hits the market for $52M
Building stands three stories tall and spans 57K sf
A fully-leased building in the heart of Williamsburg is on the market for $52 million.
The three-story property at 151 Kent Avenue spans 56,550 square feet and contains 46 units, according to Crain’s. Cushman & Wakefield is marketing the property.
The building used to be a factory, but artists converted it into lofts in the late 1990s as Williamsburg began its transformation into the hipster capital of the world. Part of the property was recently leased to the co-living company Pure House, but the firm is no longer active at the site.
It is not immediately clear who the seller is.
The building has a basement and 34,000 square feet of air rights, so the buyer could opt to expand it. It has 200 feet along Kent Avenue as well that could be used for retail. [Crain’s] – Eddie Small