- Investors can acquire over 70,000 sf of prime conversion space in coveted Brooklyn neighborhood
- Boricua College will remain open and will continue operating from other locations
NEW YORK, March 30, 2017 – On behalf of Boricua College, Cushman & Wakefield has been retained on an exclusive basis to sell a large-scale conversion opportunity comprised of three buildings at 182-190 N 6th Street, 165-171 N 5th Street, and 584 Driggs Avenue in Northside Williamsburg, Brooklyn.
Cushman & Wakefield’s Guthrie Garvin and Brendan Maddigan are exclusively marketing the property at an asking price of $39,000,000.
“A property of this scale in Northside Williamsburg is rarely available and we’re excited to see what kinds of creative uses different buyers may have in mind,” said Brendan Maddigan.
The conversion site, measuring 116.67’ by 200’, is currently improved by three brick buildings on two abutting tax lots: the main school building hosting 35 class rooms, a gymnasium building, and a four-story multifamily building which currently operates as housing for school staff.
Together, the structures offer roughly 73,559 square feet of which approximately 16,700 square feet are partially below grade. The combined parcel also offers three sides of frontage, a total of over 280 feet, and features two curb cuts. The buildings will be delivered vacant upon sale.
Ideally located in the epicenter of Williamsburg, the property is surrounded by a rapidly expanding variety of premier retailers, renowned restaurants, and one-of-a-kind leisure destinations – fitting for many potential development projects including a luxury residential complex. The property also benefits from close proximity to the L train station at Bedford Avenue.
“The offering presents investors the chance to make their mark and significantly impact a community with a single project,” said Guthrie Garvin. “We’re predicting to see strong interest in the site especially as Northside Williamsburg continues to draw domestic and international attention.”
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.