Living / Multi-housing

North Williamsburg Portfolio

126 Bedford Ave, Brooklyn, NY, 11249-2038, US

North Williamsburg Portfolio_Property for Sale

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Asset description

Jones Lang LaSalle (“JLL”) is pleased to offer for sale the fee simple interest in the North Williamsburg Portfolio, a three-building portfolio sale located in the Williamsburg neighborhood of Brooklyn, New York (the “Property”). The 15,484 square foot mixed-use portfolio is 100% leased to 11 residential tenants and four quality retail tenants; Cutlets, Glowbar, a National Food Concept and a confidential Brooklyn Flagship for a high-growth cosmetic company.

Attributes

Number of units
15 units
Occupancy
100.00%
Year built
2022
Building area gross
15,484 sf

Investment highlights

126 Bedford Avenue is a six-unit mixed-use building, with 92’ of corner frontage on the premier retail corridor in Williamsburg, Brooklyn. The Property includes retail tenant Cutlets Sandwich Company (7% gross portfolio revenue) on the ground floor, with five residential free-market units above. With the guidance of Cutlets owner Richard Zaro and priding itself on quality ingredients, Cutlets has quickly become Manhattan’s most popular sandwich shop, with 126 Bedford Avenue being its first Brooklyn location.


157-159 Wythe Avenue is an eight-unit, recently renovated mixed-use property along the highly trafficked Wythe Avenue in Williamsburg, Brooklyn. The Property includes two well-renowned retail tenants on the ground floor, a National Food Concept and Glowbar, and six free-market residential units above. The National Food Concept occupying the second retail space is a full-service restaurant focused on servicing high end, quality Japanese Cuisine. This Nationally recognized restaurant, which is 13% of gross portfolio revenue, has become a mainstay in both Los Angeles and New York City and has over fifteen locations nationally. Glowbar, which occupies the other retail space and is 5% of gross portfolio revenue, currently has locations in Tribeca and the Upper East Side. Glowbar is a destination for approachable, accessible, and quality facial treatments and will be bringing its first retail location to Brooklyn.


77 N 6th Street is a high quality, corner retail property with over 85’ of corner frontage. The venture capital backed retail tenant (42% of gross portfolio revenue) is a nationally recognized skin care and beauty products brand. Founded in 2014, the beauty and skincare brand has become a nationally recognize juggernaut, looking to capitalize on bustling and growing Williamsburg market.

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Last updated
Aug 11, 2022