Hodges Ward Elliott arranges $61 million sale of Rocket Lofts; Parker, Gillen, Tambor, Van Buitenen and Boyan rep seller

Brooklyn, NY The New York office for Hodges Ward Elliott (HWE) has arranged the $61 million sale of Rocket Lofts at 100 South 4^th St., a 100% free-market rental building located on the south side of Williamsburg, between Berry St. and Bedford Ave. 

The HWE team comprised of Daniel Parker, managing director, Paul Gillen, managing director, Ariel Tambor, vice president, Kyle Van Buitenen, vice president, and Allie Boyan, analyst, represented the seller, Meadow Partners. 

“With the increased uncertainty around rent stabilized properties, this is a very strong moment to sell a free market or 421a building in New York City,” said Parker. “We are happy we successfully executed this sale for our client.”

The 68,500 s/f building is comprised of 73 loft-style apartments with 12-foot ceilings along with ground-floor retail. Residential units include exposed concrete beams and columns as well as original maple hardwood floors. The unit interiors also feature new appliances and bathrooms, in addition to oversized windows offering natural light and views.

The building also offers a great location within the popular South Williamsburg neighborhood, and is nearby numerous shopping and dining as well as mass transit options.  

Earlier in 2019, the HWE New York team arranged the $43.8 million sale of 424 Bedford Ave., a 63,866 s/f, 20-story luxury rental property also located in South Williamsburg.