Zhi Xiang Lin & Chi Bing Wu Acquire Greenpoint Industrial Property For $7.5M

A 20,000 square-foot industrial property located at 233, 238 & 249 Huron Street in Greenpoint, Brooklyn has been sold for $7,500,000. The property consists of a 15,000 square-foot warehouse and was acquired by Zhi Xiang Lin & Chi Bing Wu from the Rosenberg Family. The buyer was represented by Ritz Realty, while Jakub Nowak & Thomas Brennan from Marcus & Millichap acted as the seller's representatives in the transaction.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $7,500,000
• Lot Size: 20,000 square feet
• Price per Lot Square Foot: $375
• Warehouse Size: 15,000 square feet
• Price per Warehouse Square Foot: $500

This sale highlighted the strong demand from owner-users in the industrial market, which helped stabilize pricing in the sector. The marketing process attracted several motivated owner-users who were willing to bid aggressively with alternative financing, contributing to a competitive bidding environment. The buyer's offer to purchase the property as-is and without an environmental inspection ultimately secured the contract. For more information about this transaction or to discuss the value of your property or portfolio, interested parties can contact Jakub Nowak at (718) 475-4353 or Thomas Brennan at (718) 475-4326.