The Real Deal New York

CW Realty, Joyland selling trio of Brooklyn buildings for $23M

Sharrati family picked up 119-123 Kent Avenue in Williamsburg
By Eddie Small | April 17, 2018 04:30PM

Cheskie Weisz’s CW Realty Management, Joyland Group and Meral Property Group are selling a trio of contiguous mixed-use buildings in Williamsburg for $22.5 million to the Sharrati family, according to sources familiar with the deal.

The properties are located at 119-123 Kent Avenue and contain 17 apartments with three ground-floor retail units. The apartments were recently renovated to feature at least two bedrooms, along with washers and dryers.

The sellers also sold the property’s inclusionary air rights for $1.75 million to Adam America Real Estate Group for the company’s project at 120 Union Avenue.

Lipa Lieberman

Steven Dweck and Nat Rockett of Marcus and Millichap represented the buyer, while David Schechtman, Lipa Lieberman and Abie Kassin of Meridian Investment Sales represented the sellers.

The partners bought the Williamsburg properties in 2016 for $15.8 million.

Other recent Williamsburg deals include Horrigan Development’s sale of 347 Berry Street for $17.5 million and Largo Investment’s sale of 215 North 10th Street for $25 million.

In October, the Sharrati family sold the eight-unit rental building at 85 Chambers Street in Tribeca to United American Land for $15 million, according to property records.