Alex O'Laughlin Acquires Industrial Property In East Williamsburg For $4.45M

Located in East Williamsburg, Brooklyn, the recently sold industrial property at 190 Morgan Avenue offers a prime investment opportunity. The property, situated on a lot measuring 61.58 ft x 150 ft, features a total square footage of 9,669. The deal, closed on 10/12/2021, involved a purchase price of $4,450,000, resulting in a price per square foot of $460. The property is zoned as M3-1, making it suitable for industrial use.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $4,450,000
• Address: 190 Morgan Avenue
• Market: East Williamsburg, Brooklyn
• Lot Size: 61.58 ft x 150 ft
• Zoning: M3-1

Alex O’Laughlin successfully acquired the property from the seller, Mayer Kohn. The transaction was facilitated by brokers Jakub Nowak, Jason Moskowitz, and Jason Grunberg from The Nowak Group, operating under Marcus & Millichap NY.

It is worth noting that despite the presence of potential environmental issues, the property was sold close to the original asking price. The Nowak Group, known for their expertise in negotiating deals that involve such challenges, ensured a successful outcome for the buyer during the due diligence period. To learn more about their experience with industrial and commercial property sales in Brooklyn, feel free to get in touch with Jakub Nowak at 718 475 4353, Jason Moskowitz at 718 475 4389, or Jason Grunberg at 718 475 4390.