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Deals & Dealmakers

Ariel tapped to market pair of commercial condo buildings

Ariel Property Advisors has been retained on an exclusive basis by Adam America Real Estate to market commercial condominiums at 717 Driggs Avenue in Williamsburg and 317 Schermerhorn Street in Downtown Brooklyn. The collective asking price for the two Brooklyn properties is $10.7 million.

Exclusive Ariel Property Advisors agents Sean R. Kelly, Esq., Shimon Shkury, Michael A. Tortorici and David Khukhashvili have been hired to market both properties.

717 Driggs Avenue – The 2-floor condominium unit in Williamsburg is fully leased for a term of 15 years. Part of a newly constructed 32-unit luxury condominium building, the property is situated on the southwest corner of South 1st Street and Driggs Avenue. The asking price for the property is $6.7 million. 

The unit encompasses 8,670 s/f with 2,450 s/f on the ground level and another 6,220 s/f on the upper level. The space, currently occupied by the Guidepost Montessori School, has a 15-year lease through October 2033. 

317 Schermerhorn Street – The vacant corner commercial condominium in Downtown Brooklyn has been fully built out, with below grade office space. Situated on the northeast corner of Schermerhorn Street and Nevins Street, the commercial condominium unit is part of a new 75-unit luxury building. It spans 4,338 s/f, of which 3,190 s/f is above-grade, with the remaining 1,148 s/f of fully built below-grade office space. The asking price for the property is $4 million.

The asset boasts 96’ of frontage on Nevins Street. 

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