Madison puts Clinton Hill warehouse on the market

Company is scrapping plans to convert building into creative office space

TRD New York /
Jun.June 18, 2018 04:20 PM

Madison Realty Capital Principal Josh Zegen and 29 Ryerson Street in Brooklyn

Madison Realty Capital has opted to try selling its Clinton Hill warehouse at 29 Ryerson Street.

The company originally planned to convert the building into creative office space but has instead hired a Cushman & Wakefield team to market the property, according to Crain’s. The vacant building near the Brooklyn Navy Yard spans more than 200,000 square feet.

A Cushman team led by Adam Spies, Adam Doneger and Josh King are marketing the property with an asking price of north of $70 million. Madison paid $45 million in 2015 for the property. The company has made some renovations to the building, but they have not done a full office conversion. [Crain’s] – Eddie Small


Related Articles

arrow_forward_ios
Mortgage lenders are beginning to see missed rent payments from office buildings. (Credit: iStock)

Add office tenants to the list of those not paying rent

Add office tenants to the list of those not paying rent
Andrew Florance, CEO of CoStar (Photo by Jeffrey MacMillan for the Washington Post)

EXCLUSIVE: CoStar’s Andy Florance on buying Ten-X, the future of office buildings and why brokers don’t need discounts

EXCLUSIVE: CoStar’s Andy Florance on buying Ten-X, the future of office buildings and why brokers don’t need discounts
An institutional investor’s sale of a 7 percent stake in an exchange-traded real estate fund reveals deep concerns about the sector. (Credit: iStock)

Mystery investor dumps big stake in real estate fund

Mystery investor dumps big stake in real estate fund
Thor Equities’ big bet on Fulton Market is paying off

Thor Equities’ big bet on Fulton Market is paying off

Thor Equities’ big bet on Fulton Market is paying off
CEO Andrew Florance (Credit: CoStar via YouTube)

CoStar buying Ten-X for $190M

CoStar buying Ten-X for $190M
Small landlords, such as Jan Lee, a New York landlord who owns two buildings, say Wall Street players will take their place unless rent relief comes soon. (Credit: Twitter; background via BRYAN R. SMITH/AFP via Getty Images)

Small landlords call for rent relief package, fearing Wall Street takeover

Small landlords call for rent relief package, fearing Wall Street takeover
Cohen Brothers Realty president and CEO Charles Cohen and Cushman & Wakefield Chairman of Global Brokerage Bruce Mosler

Hear from billionaire Charles Cohen on today’s TRD Talk

Hear from billionaire Charles Cohen on today’s TRD Talk
Northwind's Ran Eliasaf

Northwind Group launches $220M debt fund focused on NYC

Northwind Group launches $220M debt fund focused on NYC
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...