$35M property in Williamsburg sells to foreign investor REDA
TerraCRG and Rosewood Realty, have brokered the $34,926,000 sale of 50 N. 1st St., a 46-unit multifamily building in Williamsburg, to Reda Capital. Daniel Lebor and Matt Cosentino of TerraCRG along with Aaron Jungreis, Ben Khakshoor, and Alex Fuchs from Rosewood Realty exclusively represented the Kushner Companies.
“50 North 1st is a good example of the demand for market rate properties in prime neighborhoods,” said Lebor. “The amount of activity for 50 North 1st during the peak of interest rate uncertainty, showed us the resiliency of the Brooklyn market.”
“Williamsburg, standing universally as a premier neighborhood, resonated with our foreign buyer who seeks out best in class proper- ties.” Said Ben Kakshoor from Rosewood.
The 7-story, 54,698-square-foot building sits between Kent and Wythe Avenue, in proximity to many of the national retailers that have come to Williamsburg, as well as many trendy bars and restaurants that have arrived within recent years.
