Brooklyn Standard Properties purchases 39 Ainslie Street for $7 million; Cushman & Wakefield's Maddigan, Stanton & Lively represent seller

Brooklyn Standard Properties (BSP), a development company specializing in purchasing and repositioning undervalued properties in Brooklyn, purchased their second and largest building in central Williamsburg for $7 million. The four-story, 20,000 s/f mixed-use building at 39 Ainslie St., between Rodney and Keap Sts., has nine residential units and an unoccupied ground-floor commercial space. "We love the neighborhood and the transformation that is going on there," said David Manheimer, BSP's co-founder. "We saw great potential in this property." BSP plans to rent the ground-floor commercial space and the upper floors as residential rental apartments. "This building is classic old school Williamsburg," said Benji Kohn, the co-partner of BSP. "It's a great opportunity to make apartments in this type of space." The seller's broker was Cushman & Wakefield's Brendan Maddigan, Ethan Stanton and Mark Lively. According to property records the seller was Arm & Leg Co., an entity which had owned the site since 1999. BSP's other Williamsburg holding is 136 North 8th Street, a four-story walk-up building in central Williamsburg. The company paid $2.4 million for the site last October. Additional BSP projects include: 151 Dupont Street, an eight-unit building in Greenpoint, 533 Bergen Street, an eight-unit building in Prospect Heights and 228 Jefferson Street, a six-unit rent stabilized building in a trendy part of Bushwick.