US: Avison Young has been retained to represent 186 N 6 Owner, LLC. for the sale of Williamsburg House, a fully free market redevelopment in Brooklyn.
Located at 186 North 6th Street and 165 North 5 th Street, the 60,000 square-foot, two-building property is listed for sale at $65 million and was formerly the home of the Boricua College. Now fully renovated, Williamsburg House offers flexibility in use as a multifamily, coliving, and/or student housing.
The seller, 186 N 6 Owner, LLC., is represented by David Shalom, director, with support from James Nelson, principal and head of Tri-State Investment Sales.
“This is a rare opportunity to acquire a beautifully renovated fully free-market residential property in the heart of one of the best neighbourhoods in NYC,” said Shalom. “There is no shortage of tenant demand, representing immediate upside in cash flow.”
The property is managed by Outpost Club and is surrounded by tree-lined streets, cafés and local eateries, and destination shopping. All the units are free-market and set up as four-bedroom, two-bathroom apartments with high ceilings, individual HVAC units, and keyless entry. Eight of the ground-floor units in the main building duplex down to the lower level and six of those offer private outdoor space and loft style arrangements. The property also boasts building amenities including a fully furnished 6,000 square foot rooftop deck with 360-degree views of the Manhattan skyline, barbecue grills, outdoor shower, hammocks, lounge chairs, and worktables, as well as a laundry café, game room, event space, and screening room.
“Our team built this flagship location as the best in its class for coliving,” said David Dweck, managing principal of developer Duke Equities, LLC. “Our concept and careful attention to detail within the building itself has been well received by the market,” added Steven Ancona, president, Flatiron Real Estate Advisors.
