Closed 01/28/2016

~17,266 Buildable SF for Commercial Development

340-343 Wythe Avenue

Williamsburg

Closed 01/28/2016 at
$7,500,000

Zoning M3-1
Buildable SF 8,633
Cross Streets S 1st & S 2nd Streets
Lot Size 73.83 ft x 100 ft
Subways
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Development 340-343 Wythe Avenue, Williamsburg
Melissa Warren
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Details

Alternative Address 61-65 S 2nd street
Block-Lot 2403-31
Building Class E9
Lot SF 8,633
Building Size 73.83 ft x 100 ft
Frontage - Wythe Avenue 50 ft
Frontage S 2nd Street 73.83
Commercial FAR 2.00
Commercial BSF 17,266

Overview

TerraCRG has been retained to exclusively represent ownership in the sale of the commercial property at 340 Wythe Avenue. The commercially zoned property sits on one of the fastest developing commercial corridors in Williamsburg.

The L shaped property has 50 ft of frontage on Wythe Avenue and 73.83 ft of frontage on S 2nd Street, with M3-1 zoning that allows for ~17,266 Buildable Square Feet for a commercial development (retail, office). There is an existing single story warehouse building on the property that will be delivered completely vacant.

Commercial development on the Wythe Avenue corridor sprouted over the last decade to support this new population growth. Tech companies and creative service firms have committed to the neighborhood to ebe close to the new talented work force that has been drawn to the neighborhood. Most recently Vice Media, the online production firm, announced a move to a 60,000-square-foot former industrial building down the block. Last year, Amazon.com signed a lease to setup their studios and offices just a short walk north

National brands as well as upscale retailers, restaurants and entertainment venues have been flocking to the North Williamsburg area to cater to the new demographic.  Most recently J. Crew announced the opening of it’s first Williamsburg location on Wythe Avenue. Just a block away, the Domino Sugar development is on track to bring an 11 acre mixed use project including four towers and over 2,200 apartments.

The close proximity to the L train on Bedford Avenue along with the new and increased population to the neighborhood make Wythe Avenue a prime location for retail and office development.

Attractions

In the past decade Williamsburg has become one of NYC’s most popular neighborhoods. WIth its diverse demographic, semi-industrial Williamsburg attracts an affluent yet sophisticated demographic from all over the city.  Also important to remember is that Williamsburg is actually a rather large neighborhood both in population (its home to about 125,000 people, about the same as Harlem) and geography.

The Brooklyn Waterfront Greenway
McCarren Park Pool
Wythe Hotel
Brooklyn Bowl
Brooklyn Brewery
Brooklyn Flea

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