Jones Lang LaSalle Americas, Inc. (“JLL”) has been retained to arrange the sale of 133 Kent Street, an 83,000-square-foot development site on a 20,000-square-foot footprint, in the heart of North Williamsburg. The site has approved plans for a 6-story mixed-use building consisting of 82,922 GSF. The plans include 65,534 GSF of residential space across 43 luxury condominium units and 17,388 SF spread across 8 unique retail units. 133 Kent was recently granted a full parking waiver and the current plans can be amended to increase the ceiling heights within the current design. Ownership is also in contract to purchase off-site inclusionary certificates which makes the site completely free market at the 3.6 FAR.
The site is ideally located on the corner of Kent Avenue, which is one the most proven condominium markets in NYC, and N 6th Street, which is the one of the strongest performing retail corridors in the city. The Property is just four blocks west of the Bedford Avenue L Train Station, offering seamless access to Manhattan. Additionally, the Property is one block from the entrance of the East River Park, five blocks from the entrance of Domino Park, and seven blocks from McCarren Park.
PREMIER DEVELOPMENT SITE IN WILLIAMSBURG
The Site offers the opportunity to build a brand new 6-story, ~83,000 GSF luxury condo building in the prime Brooklyn sub-market of Williamsburg. There are plans in place for 43 condo units with full amenities, as well as 8 ground floor retail units. Additionally, with the purchase of off-site inclusionary housing air rights, the site is fully free-market. There is a waiver for the parking requirement.
TOP-TIER CONDO MARKET
The North Williamsburg market has emerged as the top condo market in the borough, offering a diverse range of high-quality units with luxury amenities and modern designs. Recent developments in the area have consistently achieved higher sell-out values compared to other submarkets in the borough. Despite the increase in condo developments over the last five-years, the limited supply of units in the market sustains strong demand, resulting in a continued upward trajectory of sell-out pricing.
THRIVING RETAIL MARKET
133 Kent Avenue is positioned perfectly in heart of North Williamsburg’s most energetic retail corridor. With plans for 8 retail units, and frontage along N 6th Street and Kent Avenue, the Site offers an investor a variety of ways to unlock its potential. N 6th Street emerged as one the most heavily trafficked and popular retail corridors in all of New York City. National and global retailers include Hermès, Chanel, Glossier, Nike, Le Labo, Lululemon, Google as well as many other prominent retailers.
133 Kent Avenue’s proximity to Manhattan, combined with excellent public transportation options, provides exceptional convenience and accessibility. Located on the northeast corner of Kent Avenue and N 6th Street, the Property is just three blocks west of the Bedford Avenue L Train Station offering seamless access to Downtown and Midtown Manhattan.