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Jones Lang Lasalle (JLL) has been exclusively retained to arrange the fee simple sale of 135 Kent Avenue, a two-story, mixed-use retail and multi-housing asset located in the Williamsburg neighborhood of Brooklyn, New York. Situated on the prime corner of North 6th Street and Kent Avenue, the existing structure features 25,000 gross square feet with 125’ of frontage on North 6th Street and 100’ of frontage on Kent Avenue. The Property consists of several commercial spaces on the ground floor, most of which are either vacant or have a near-term lease expiration, and has nine apartment units on the second floor, of which five are subject to the Loft Law and one that is seeking Loft Law status.
This is the first time the property is being offered in over thirty years, presenting a rare opportunity to acquire a redevelopment project on a corner-lot in one of the most sought-after locations in New York City. The property’s prime location will allow a new investor to capitalize on the strong “High Street” retail corridor and burgeoning luxury residential market.
- Attractive Development Profile – 135 Kent Avenue represents the rare opportunity to acquire a Property located on one of the most desirable corners in Williamsburg. Featuring 125’ of frontage on North 6th Street and 100’ of frontage on Kent Avenue, the corner-lot structure boasts efficient floor plates and ample protected light and air.
- Exceptional Transportation Access & Connectivity - 135 Kent is located just a short walk from the Bedford Avenue subway station, which has over 9.3M annual riders and is just one stop from Manhattan. The Property is also located one block from the North Williamsburg Ferry Terminal, providing easy access to Lower Manhattan, Midtown at 34th Street, DUMBO, Long Island City and Governors Island.
- Flourishing Luxury Market – Since the waterfront rezoning in 2005, North Williamsburg has experienced explosive residential growth as evidenced by nearby developments The Edge, Fifth & Wythe, 50 North 5th, 1N4th, Northside Piers and the Austin Nichols House. Rents and condominium pricing in these assets have surpassed certain submarkets of Manhattan demonstrating the desirability of the area.
- Upward Trending Demographics – An astounding 66% population growth within a 1/4-mile radius of the property since 2010, over 11x higher than Brooklyn as a whole during the same period. Average income of $206,334 is approximately double that of the entire borough.