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

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