Brooklyn, NY Klosed Properties has acquired a corner retail condominium unit located at 365 Leonard St. The acquisition price was $1.336 million.
The subject is located at the base of a new construction condo development in the Williamsburg neighborhood. The property consists of 1,300 s/f at grade, with an additional 1,000 s/f lower level space, leased entirely to Hudson Table, an in-person, hands on cooking class, taught by a select group of experience chefs.
Klosed acquired the property from Ryback Development, who were represented by JLL.
This marks Klosed’s fourth acquisition in 2021, with an additional nine deals in hard contract
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,