New York, NY – April 17, 2018 – Cushman & Wakefield announced today that the firm has arranged the sale of 347 Berry Street, a six-story, elevator, loft-style mixed-use building, also known as “The Ice Cream Factory,” located in the heart of Williamsburg. The final closing price was $17.5 million.

A Cushman & Wakefield team of Stephen Palmese, Brendan Maddigan, Michael Mazzara, Ethan Stanton and James Berluti represented the seller, Horrigan Development, in this transaction. The building was purchased by Golden Lioness Corp.

347 Berry is a well-built, newly constructed building positioned perfectly to take advantage of long term value growth as southside Williamsburg continues to build momentum,” said Brendan Maddigan of Cushman & Wakefield.

The approximately 21,500 square foot building is comprised of 23 residential loft apartments, a retail storefront, and a nine-car partially enclosed parking lot. The residential units consist of four studio apartments, 14 one-bedroom units, and five two-bedroom apartments. Each residence features bamboo floors, floor-to-ceiling windows, state of the art appliances, and in-unit washers & dryers. In addition to on-site parking, the property offers tenants a recreation room on the ground floor.

Each residential unit at 347 Berry Street is fully leased along with the retail space on the ground floor. The corner, 606 square-foot retail space is occupied with a 10-year lease by a café, Butler & Co.

The Ice Cream Factory is ideally located on the northeast corner of South 5th and Berry Streets in Williamsburg, Brooklyn. Not only is the property conveniently located in close proximity to the J, M, & Z subways at Marcy Avenue and the water taxi at Schaefer Landing, but it is surrounded by some of the neighborhood’s most popular dining and retail attractions.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 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.