Abe Hirsch Acquires Industrial Property In Bushwick, Brooklyn For $11.1M

333-349 Moffat Street, a 20,523 square-foot corner industrial building located in eastern Bushwick, has been sold for a price of $11,100,000. The property features approximately 25' ceilings and additional land for parking or development. Approved plans for a full overhaul, including column removal, an extension, and utilities, were also in place. Originally marketed based on the anticipated Bushwick rezoning, the Horne Team adjusted their strategy and targeted potential end-users or the option of leasing the property before selling it to a more traditional investor. While offers up to $50 per square foot for lease were received, the buyer eventually chosen was an experienced end-user who plans to create a unique and remarkable space for their company.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $11,100,000
• Address: 333-349 Moffat Street
• Market: Bushwick
• Square Footage: 20,523
• Price per Square Foot: $540
• Buyer: Abe Hirsch
• Seller: Juan Figueroa

The sale of 333-349 Moffat Street was facilitated by Silver Heights Capital, an experienced lender for construction and value-add projects. Silver Heights originated the seller's acquisition and construction loan and structured an assumption that worked for both parties involved. For any lending inquiries, contact [email protected]. Any questions regarding this property or other on- and off-market opportunities can be directed to [email protected] or by calling or texting 706-255-5657.