Eastern Consolidated has been named the exclusive agent to market for sale 61-71 Wythe Avenue in Williamsburg, occupied by the popular Brooklyn Bowl and Brooklyn Brewery.
Principal and Executive Managing Director David Schechtman and Director Chad Sinsheimer, of Eastern Consolidated, exclusively represent ownership.
“Ownership has guaranteed the tenants that the sale will not affect their leases, which expire in 2021 and 2025, respectively,” Schechtman said. “These two businesses have become icons in Brooklyn, and buying and holding the property as-is could yield bigger returns in the future as the neighborhood is still changing.”
The 35,000 s/f retail and industrial warehouse building is zoned for 70,000 s/f of hotel, office, or retail development.
An additional 100,000 s/f can be constructed atop the existing one-story structure in the form of community space, with zoning allowance permitting the development of doctors’ offices, education facilities, or social-services facilities at the site. “Williamsburg is an established hotbed of boutique and luxury hotels –– not to mention retail, bars, and restaurants –– and the continued success of both businesses here could make this a tremendous, long-term investment for a buyer,” Sinsheimer added.
“The best corners in the neighborhood simply have not been available, much less come to market, until now.”
The property at 61-71 Wythe Avenue features 361 feet of wraparound frontage and is located directly across from The Wythe Hotel, one block from McCarren Park, and offers convenient access to Midtown Manhattan via the L subway line and East River Ferry.