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Bushwick

Bushwick
Brooklyn, NY 11221
Retail, Residential, Leasing/Rental, Multifamily

Bushwick is a neighborhood in northern Brooklyn, bounded by Flushing Avenue, Broadway, the borough of Queens and the Cemetery of the Evergreens. Some real estate market participants call it East Williamsburg and sometimes include the industrial area north of Flushing Avenue in the neighborhood, calling it Industrial Bushwick. Knickerbocker Avenue is Bushwick's main shopping street. The neighborhood owes its rising property prices to the proximity of Williamsburg to the west and the fact that the popular L subway line runs through it and into downtown Manhattan (though service to Manhattan will stop for 18 months starting in early 2019 to repair tunnel damage from Superstorm Sandy). Housing stock consists mostly of two- to three-family row houses and midsize apartment buildings. Hundreds of units in the neighborhood are government-subsidized. As in Williamsburg in the 1990s, Bushwick's warehouses have been repurposed as artists' studios or as sites for large parties. Manhattan and Williamsburg transplants, in search of cheaper housing and more space, have been pushing out Bushwick's immigrant and Latino population. As of 2015, Dallas-based developer Lincoln Property Company was converting a 100,000-square-foot factory at 455 Jefferson Street into an office building with retail space. Bushwick Realty Holdings LLC, controlled by Brooklyn landlord Moshe Braver, plans to build a 180-unit residential apartment building at 338 Evergreen Avenue. Other residential developments include 330 Bleecker Street, 13 Melrose Street, Colony 1209 at 1209 DeKalb Avenue, 51 Troutman Street and 95 Evergreen.

  • Address Bushwick
  • neighborhood Bushwick
  • borough Brooklyn
  • Event Sales
  • Address 206 Bushwick Avenue
  • Neighborhood East Williamsburg
  • Borough Brooklyn
  • Square feet 6,000
  • Price $ 2,650,000
notes
The buyer secured the East Williamsburg property for $2.65 million.
  • Event Sales
  • Address 251 Bushwick Avenue
  • Neighborhood East Williamsburg
  • Borough Brooklyn
  • Square feet 5,800
  • Price $ 2,800,000
notes
The buyer secured the East Williamsburg property for $2.8 million.
  • Event Financing
  • Address 950 Bushwick Avenue (Brooklyn)
  • Neighborhood Bushwick
  • Borough Brooklyn
  • Square feet 8,675
  • Price $ 950,000
  • Publication Date 06/19/2018
  • Event Date 06/20/2018
  • Party 1 HLPG 950 Bushwick LLC
  • Party 2 Loan Funder
notes
The owner secured a loan of $950,000 for the Bushwick property.
  • Event Sales
  • Address 950 Bushwick Avenue
  • Neighborhood Bushwick
  • Borough Brooklyn
  • Square feet 8,675
  • Price $ 2,000,000
notes
The buyer secured the Bushwick property for $2 million.
  • Event Financing
  • Address 626 Bushwick Avenue
  • Neighborhood Bushwick
  • Borough Brooklyn
  • Square feet 36,800
  • Price $ 26,250,000
  • Publication Date 10/23/2017
  • Event Date 10/18/2017
  • Party 1 Wildenstein & Co.
  • Party 2 JPMorgan Chase
notes
The owner acquired a loan for $26.25 million.
  • Event Sales
  • Address 626 Bushwick Avenue
  • Neighborhood Bushwick
  • Borough Brooklyn
  • Square feet 36,800
  • Price $ 51,000,000
notes
The art gallery owner company acquired the property for $51 million.
  • Event Sales
  • Address 618 Bushwick Avenue
  • Neighborhood Bushwick
  • Borough Brooklyn
  • Price $ 51,000,000
  • Publication Date 11/01/2017
  • Event Date 10/05/2017
  • Party 1 Cayuga Capital
  • Party 2 Wildenstein & Co.
notes
The buyer acquired the 7-story building and preserved 1890s church that was converted into residential units for $51 million.
  • Event Sales
  • Address 757 Bushwick Avenue
  • Neighborhood Bushwick
  • Borough Brooklyn
  • Square feet 57,257
  • Price $ 11,700,000
  • Price per foot $ 204.00
  • Publication Date 07/01/2017
  • Event Date 05/31/2017
  • Party 1 Essex Plaza Management
  • Party 2 Arker Companies
notes
The 4-story, 70-unit residential building in Bushwick was sold for $11.7 million.
  • Event Financing
  • Address 757 Bushwick Avenue
  • Neighborhood Bushwick
  • Borough Brooklyn
  • Square feet 57,257
  • Price $ 8,000,000
  • Price per foot $ 139.00
notes
The entity secured an $8 million mortgage for the 70-unit residential building.
  • Event Financing
  • Address 889 Bushwick Avenue
  • Neighborhood Bushwick
  • Borough Brooklyn
  • Square feet 218,700
  • Price $ 90,000,000
notes
The company secured a $90 million construction loan for the two multifamily complex.
  • Event Financing
  • Address 10 Montieth Street, 501 Bushwick Avenue, 79-115 Stanwix Street
  • Neighborhood Bushwick
  • Borough Brooklyn
  • Square feet 400,000
  • Price $ 93,000,000
  • Publication Date 01/01/2017
  • Event Date 11/17/2016
  • Party 1 Bank Leumi
  • Party 2 Rabsky Group
notes
The company secured a $93 million loan in new construction financing.
  • Event Sales
  • Address 1500 Bushwick Avenue
  • Neighborhood Bushwick
  • Borough Brooklyn
  • Square feet 12
  • Price $ 4,250,000
notes
The 12-unit, J-51 multifamily buildiing sold for $4.25 million.
  • Event Sales
  • Address 1654 Bushwick Avenue
  • Neighborhood Bushwick
  • Borough Brooklyn
  • Square feet 32,730
  • Price $ 4,510,000
  • Price per foot $ 137.79
notes
The property sold for $6.66 million.
  • Event Sales
  • Address 682 Chauncey Street, 1441 Bushwick Avenue
  • Neighborhood Bushwick
  • Borough Brooklyn
  • Square feet 13,560
  • Price $ 3,850,000
  • Price per foot $ 283.92
  • Publication Date 06/01/2016
  • Event Date 05/18/2016
  • Party 1 GRO Development Group
  • Party 1 Brokerage Cushman & Wakefield
  • Party 2 Alley Property Management
  • Party 2 Brokerage Cushman & Wakefield
notes
The properties sold for $3.85 million.
  • Event Sales
  • Address 1184 Bushwick Avenue
  • Neighborhood Bushwick
  • Borough Brooklyn
  • Square feet 5,243
  • Price $ 1,550,000
  • Price per foot $ 295.63
notes
The multifamily residential building sold for $1.55 million.
  • Event Sales
  • Address 1292-1294 Bushwick Avenue
  • Neighborhood Bushwick
  • Borough Brooklyn
  • Square feet 5,280
  • Price $ 950,000
  • Price per foot $ 179.00
notes
The vacant lot sold for $950,000.
  • Event Sales
  • Address 86-90 Bushwick Avenue
  • Neighborhood East Williamsburg
  • Borough Brooklyn
  • Square feet 20,203
  • Price $ 9,000,000
  • Price per foot $ 445.48
notes
The mixed-use building sold for $9 million, or $455 per square foot.
  • Event Sales
  • Address 733 Bushwick Avenue
  • Neighborhood Bushwick
  • Borough Brooklyn
  • Price $ 1,200,000
  • Event Sales
  • Address 590 Bushwick Avenue
  • Neighborhood Bushwick
  • Borough Brooklyn
  • Price $ 1,300,000
  • Publication Date 12/01/2014
  • Event Date 10/17/2014
  • Party 1 Broker Jason Silverstein and David Shorenstein
  • Party 2 Brokerage Silvershore Properties
  • Party 2 Broker Jason Silverstein, David Shorenstein
  • Event Sales
  • Address Bushwick Avenue
  • Neighborhood Bushwick
  • Borough Brooklyn
  • Price $ 53,000,000
  • Event Sales
  • Address 253 Bushwick Avenue
  • Neighborhood Williamsburg
  • Borough Brooklyn
  • Price $ 2,200,000
  • Publication Date 09/01/2014
  • Event Date 07/18/2014
  • Party 1 Brokerage Cushman & Wakefield
  • Party 1 Broker Mark Lively, Brendan Maddigan
  • Event Sales
  • Address 251 Bushwick Avenue
  • Neighborhood Williamsburg
  • Borough Brooklyn
  • Price $ 1,700,000
  • Publication Date 03/01/2014
  • Event Date 01/15/2014
  • Party 2 Brokerage Marcus & Millichap
  • Party 2 Broker Said Boukhalfa
  • Event Residential Sales
  • Building Name 1095 Bushwick Avenue
  • Address Unit 1L, 1095 Bushwick Avenue
  • Unit 1L
  • Neighborhood Bushwick
  • Borough Brooklyn
  • Price $ 25,000
  • Publication Date 01/22/2013
  • Event Date 12/27/2012
  • Party 1 Entity 1095 Bushwick Avenue Housing Development Fund Cor
  • Party 2 Haqq, Khamillah A
  • Event Sales
  • Address 58 Bushwick Avenue
  • Neighborhood Williamsburg
  • Borough Brooklyn
  • Price $ 1,140,000
  • Publication Date 05/01/2011
  • Event Date 03/17/2011
  • Party 1 Private owner
  • Party 1 Broker Brian Leary, Sean Kelly
  • Party 2 Local developer
  • Event Office Leasing
  • Address 522 Bushwick Avenue
  • Neighborhood Bushwick
  • Borough Brooklyn
  • Square feet 9,000
  • Publication Date 06/01/2010
  • Event Date 04/17/2010
  • Party 1 Ridgewood Bushwick Senior Citizen Council
  • Party 1 Brokerage Represented in-house
  • Party 2 AHRC of New York City
  • Party 2 Brokerage Squarefeet.com
  • Party 2 Broker Jonas Rudofsky
notes
The nonprofit signed a 10-year lease. The reported asking rent was $32 per square foot.
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04/06/2018
Bushwick and Bedford-Stuyvesant were the two most popular neighborhoods for the company with eight projects apiece...

03/29/2018
Its largest project is the 315,032-square-foot development at 123 Melrose Street in Bushwick, the Rheingold Brewery site, where it is planning a development with 468 residential units...

01/01/2018
Long Island City, for example, saw a 95 percent drop in residential units applied for from 2014 (when there were 7,459) to 2017 (when there were only 335 through October). Williamsburg saw a 90 percent drop in the same category during that same time window â€' developers in the neighborhood filed for 403 units in 2017 versus 4,352 in 2014. And Bushwick logged a 73 percent decline, falling to 546 in 2017 from 1,998 units in 2014...

11/02/2017
Clockwise from top left: 45-15 82nd Street, 149-17 Sanford Avenue,18-93 Cornelia Street and65-38 Austin Street (Credit: Google Maps) The Queens condo market has slowed down Clockwise from top left: 45-15 82nd Street, 149-17 Sanford Avenue,18-93 Cornelia Street and65-38 Austin Street (Credit: Google Maps) The Queens condo market has slowed down...

09/01/2017
And at Wharton, Joseph Sutton has set his sights on the residential sector, acquiring at least three properties last year, including 275 Bleecker Street in the West Village and 134 Jefferson Street in Bushwick...

08/15/2017
From left: Rendering of Essex Crossing, Hard Rock Hotel and Riverwalk The largest new building proposed in July will be part of a 1.65 million-square-foot megadevelopment From left: Rendering of Essex Crossing, Hard Rock Hotel and Riverwalk The largest new building proposed in July will be part of a 1.65 million-square-foot megadevelopment...

07/01/2017
And while some developments â€' such as Midtown Equities, HK Organization and Rockwood Capital’s Dumbo office complex Empire Stores and Rudin Management and Boston Properties’ tech-focused Dock 72 at the Brooklyn Navy Yard â€' have seen success, others are facing the cold, hard truth of supply and demand in more untested office markets like Red Hook, Sunset  Park and Bushwick...

06/15/2017
Clockwise from bottom left: Gulf Avenue site on Staten Island, rendering of 351 West 38th Street, 809 Neptune Avenue and a rendering of Cornell Clockwise from bottom left: Gulf Avenue site on Staten Island, rendering of 351 West 38th Street, 809 Neptune Avenue and a rendering of Cornell...

10/14/2015
The Williamsburg-based firm, run by partners Simon Dushinsky and Isaac Rabinowitz, is also working on a proposed 777-unit rental complex on the former Pfizer site on the edge of Bedford-Stuyvesant, as well as a 398-unit Bushwick rental building that’s part of the Rheingold Brewery redevelopment...

09/02/2015
Brooklyn led the way with over 1.4 million square feet of planned apartment construction, according to a TRD analysis of residential permit applications with at least 15 units or 15,000 square feet. Four projects and 354 units were planned for Bushwick alone, the biggest at 338 Evergreen Avenue, where Moshe Braver is planning a 180-unit, 304,000-square-foot building...

08/04/2015
Plans for a Donald Trump luxury clubhouse and two massive affordable housing buildings were filed with the Department of Buildings on the same day in Plans for a Donald Trump luxury clubhouse and two massive affordable housing buildings were filed with the Department of Buildings on the same day in...

07/07/2015
Four qualifying residential projects were filed in Williamsburg in just June alone, the most of any New York neighborhood. Three of those projects lie to the neighborhood’s southeast side at the border with Bushwick, close to where two 100+ key hotels were filed just last month, and also close to where Rabsky Group’s plans to include affordable housing at the 370-unit Rheingold Brewery conversion project have been questioned by some officials...

08/01/2014
There were 48 properties for sale in Bushwick in June, a 45.5 percent increase from the 33 listed at the same time last year, according to StreetEasy...

08/01/2014
In addition, the under-the-radar Rabsky Group, No. 5, has seven projects with nearly 750 units, while Steiner Equities Group, No. 6, is developing the Hub, a 750-unit rental at 333 Schermerhorn Street in Downtown Brooklyn. The firm also plans to rehab a 40-unit rental at 815 Broadway in Bushwick, which is awaiting city approval...

11/01/2013
But in rapidly gentrifying Bushwick, Elliman is more of a competitor for AptsandLofts.com...

04/30/2010
Last month, New York Magazine surprised Manhattanites when it named Park Slope "The Most Livable Neighborhood in New York." But the ranking came as no Last month, New York Magazine surprised Manhattanites when it named Park Slope "The Most Livable Neighborhood in New York." But the ranking came as no...

...Bushwick saw a 16 percent drop in average rents during August as the number of units...

...average increased 2.7 percent, or $70.20 from February 2014. Studios in Bushwick saw the largest rent increases in the borough. Prices for a studio apartment in...

...The most active neighborhoods in the borough included Bushwick, Bedford-Stuyvesant and Williamsburg. View the full report online here. 2014 NYC multifamily sales: Ariel Property...