New York, NY – June 25, 2018 – Cushman & Wakefield announced today that the firm has arranged the sale of 145 18th Street, a commercial building with development potential, located in Greenwood Heights, Brooklyn. The final closing price was $6.5 million, equating to approximately $392 per square foot.
A Cushman & Wakefield brokerage team consisting of Executive Director Winfield Clifford, Associate Director William Barrett and Director Junji Miyake led the marketing efforts on behalf of the seller, Adel Rootstein USA. The property was purchased by SNL Storage.
“The sale of 145 18th Street illustrates the continued demand for high visibility self-storage development in South Brooklyn,” said Winfield Clifford of Cushman & Wakefield.
145 18th Street consists of a 75’ x 200’ lot and features a single-story, 16,577 square-feet brick warehouse with the same dimensions. Located in a M1-2D zoning district, the property allows for 33,154 buildable square-feet of commercial development. 145 18th Street has three curb cuts and two roll gates in addition to a handful of sky lights on the roof.
The property is located on the north side of 18th Street and runs block-through to 17th Street between 3rd and 4th Avenues in Greenwood Heights. Situated between two major creative hubs, Gowanus and Industry City, Greenwood Heights has come to offer a mix of retail destinations including Costco, Home Depot, Lowe’s, Petco and ABC Carpet & Home. 145 18th Street is conveniently located just one block away from the Prospect Avenue subway station offering access to the R line, is serviced by both the B37 and B63 bus routes, and is situated at the intersection of the Gowanus and Prospect Expressways.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, advisory and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.