BROOKLYN, NY – October 18, 2017 – ONE Commercial Realty Services (ONE-CRS) is pleased to announce we recently procured the buyer who went into contract on 456 Grand Street in Williamsburg, Brooklyn on a co-exclusive basis.
The subject property is a brand-new construction six (6) story elevator building comprising 57,500 sq. ft., fifty-two (52) rent stabilized residential units and two (2) retail tenants. The residential units boast top-of-the-line condo quality finishes, including oak hardwood flooring, floor to ceiling windows, private balconies and terraces and individually controlled heat & central A/C.
The units also have stainless steel kitchen appliances and fully tiled bathrooms while the state-of-the-art building includes a fitness center, bike storage, an on-site 17,500 sq. ft. parking garage, virtual doorman, two common roofs for tenants to enjoy, laundry room, and solar panels that power all common spaces.
“With excellent rents for the area and best-in-class construction, new ownership is well positioned to benefit from the ongoing appreciation expected in Williamsburg,” said ONE Commercial’s Josh Lipton. “The upcoming sale of 456 Grand Street is very exciting and a tremendous transaction for ONE Commercial in the Brooklyn market and just the beginning of things to come for the company,” added David Chase, the President of ONE Commercial.
“The sale of this asset speaks to the ongoing optimism investors have with regards to key sub-market in Brooklyn,’ said Andrew Levine, Director of Investment Sales at ONE Commercial Realty Services. “ONE-CRS is very active in this submarket and immediately identified the value-add component of this building through its below market retail rents and possible future condo conversion.”
About ONE Commercial
Powered by a highly skilled team, ONE Commercial is one of New York’s preeminent full-service commercial real estate firms, priding itself in providing best in class services to our clients on a consistent basis and is one of the preferred brokerage throughout New York City. With localized knowledge of each of New York City’s geographic areas, our professional brokers provide very specific market knowledge and industry expertise to investors and owners alike. As a result, we achieve superior results for our clients.