EDRE Development Acquires Three Williamsburg Industrial Buildings For $7.6M

EDRE Development, led by Harel Edery, has acquired three industrial buildings in Williamsburg, Brooklyn for a total of $7.6 million. The properties, located at 41R South 3rd Street, 50 South 2nd Street, and N/A South 2nd Street, offer a combined buildable space of 28,974 square feet. This presents an exciting development opportunity in the vibrant market of Williamsburg.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $7,640,000
• Address: 41R South 3rd Street & 50 South 2nd Street
• Market: Williamsburg, Brooklyn

The buyer, EDRE Development, led by Harel Edery, recognized the potential in these industrial buildings and seized the opportunity to acquire them. The seller, Cerbert S.J. Noonan, successfully closed the deal, solidifying this transaction in an ever-growing market. With a total of 2,400 square feet and a price per square foot of $3,183, this acquisition showcases the buyer's confidence in the Williamsburg market.