Fresh off a triumph at two Bedford Avenue development sites, Peter Levitan, senior managing director/principal of Lee & Associates NYC, has set another Williamsburg sales record at 312 Leonard Street.
At $3.1 million, or $950 per square foot, this is the highest price per square foot ever received for a Williamsburg property east of the Brooklyn-Queens Expressway.
Located on the corner of Conselyea Street and two blocks from the Lorimer Street L train stop, the property comprises a 1,580 s/f restaurant, a 420 s/f two-car garage on the ground floor, and a 1,264 s/f apartment on the second floor.
The sellers, Joseph Donatelli and Torre Mercogliano, who occupied the apartment and operated DeStefano’s Steakhouse, a Brooklyn institution, will continue to run the restaurant by leasing the space back from the new owner.
“This was a mutually beneficial transaction in a highly desirable location,” said Levitan, who represented the sellers.
“The buyer has the comfort of guaranteed income from the restaurant, and the sellers are able to continue their passion of running one of New York City’s premier steakhouses.”
The sale comes months after Levitan brought an all-cash buyer to two development sites at 184-186 and 204-206 Bedford Avenue, where the sale was 2014’s most expensive per square foot in all of New York City and an all-time high for Brooklyn. He now holds the exclusive agency for the retail space.
Sean Philipps, Outer Borough Representative of Zelnik & Company, represented the buyer, Nassimi Realty