1 Knickerbocker Avenue, Brooklyn, NY 11237
Closed in 2015 at $3,000,000
Matt Cosentino, along with his team, were the sole brokers in the sale of a mixed-use building located at 1 Knickerbocker Avenue, in East Williamsburg/Bushwick.
About this Property
Located on the border of East Williamsburg and Bushwick, this corner property was formerly home to 1 Knickerbocker Bar and Restaurant & Kings County Bar. The seller had purchased the building about two years prior for approximately $1.6M, which at the time was considered a very high price.
Process & Closing
- The space had gone through a complete gut renovation and was being delivered with an active liquor license
- Team Cosentino conducted a formal marketing process and received a great deal of interest from both investors and owner/users, including movie producers and high-end restauranteurs
- The team secured the ideal buyer for this location, and the seller made a significant profit from the space. The building sold for $3M, which was $500K more than the asking price. The buyer, who was a large developer, intends to open a restaurant/bar in the space.