Wharton Properties Acquires Development Site In Williamsburg, Brooklyn For $20M

A development site located at 166 Berry Street in Williamsburg, Brooklyn has been sold for a price of $20,000,000. The property spans an area of 6,200 square feet, resulting in a price per square foot of $3,226. With a buildable square footage of 16,740, the price per buildable square foot stands at $1,195. The sale took place on November 5, 2019.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $20,000,000
• Address: 166 Berry Street, Williamsburg, Brooklyn
• Market: Williamsburg, Brooklyn
• Street Frontage: 6,200 square feet
• Price per Square Foot: $3,226
• Buildable Square Footage: 16,740
• Price per Buildable Square Foot: $1,195
• Date of Transaction: November 5, 2019

The seller of the property was Avi Kendi, while the buyer was Eliot Tawil, representing Wharton Properties. The transaction was facilitated by Thomas A. Donovan and DJ Johnston of B6 Real Estate Advisors, who acted as the seller's representatives.