Herman Family Acquires Mixed-Use Property In Brooklyn For $8.5M

A vacant 22,000 SF single-story block through warehouse located at 199 Starr Street & 348 Troutman Street in Brooklyn has been sold for a price of $8,500,000. The property offers 100 feet of frontage on both Starr Street and Troutman Street, making it ideal for retail tenants and potential conversion. The neighborhood, known as the Explosive Jefferson L pocket, boasts a vibrant culinary and nightlife scene, making it attractive to young professionals and creative individuals living in Bushwick and Williamsburg. The property can accommodate a single 20,000 SF user or two 10,000 SF spaces, providing ample space for distribution and front-end retail exposure. It is well-suited for various uses including galleries, ghost kitchens, food halls, experiential fitness studios, and music venues. The buyer, Herman Family, will offer a substantial tenant improvement cap ex build-out allowance for the right tenant and pay healthy leasing fees.

Summary of transaction details:

• Property Type: Mixed-Use
• Transaction Amount: $8,500,000
• Square Footage: 22,000 SF
• Price per Square Foot: $386
• Address: 199 Starr Street & 348 Troutman Street, Brooklyn
• Market: Brooklyn

The deal was facilitated by Marcus & Millichap brokers Shaun Riney, Michael (Mike) Salvatico, and Tim Doyle. For any specific retail tenant recommendations, interested parties can contact Shaun Riney at [email protected]. The property's proximity to the Jefferson L train station and its growing reputation as a hub for culinary and entertainment options make it an attractive investment opportunity. The vacant warehouse's potential for conversion and its high visibility on both Starr Street and Troutman Street contribute to its appeal for retailers and other creative businesses looking to establish a presence in the vibrant Bushwick neighborhood.