Maddigan and Garvin of Cushman & Wakefield retain to market 61 N. 11th Street

Brooklyn, NY The Gross Family of DM 144 Investors, LLC has exclusively retained Cushman & Wakefield to market 61 N 11th St., a commercial building located block-through from N 11th to N 12th Sts. between Wythe and Kent Aves. in Northside Williamsburg, Brooklyn. The family-owned property is available for the first time in over three decades. “This is an exciting opportunity that offers scale at the center of the neighborhood’s dynamic commercial district, public parks, popular nightlife and new residential and hotel developments,” said Cushman & Wakefield’s Brendan Maddigan who is exclusively marketing the property with Guthrie Garvin. 61 N 11th St. is a three-story brick building with roughly 53,090 s/f of useable space divided between approximately 41,690 s/f of above-grade commercial space and an approximately 11,400 s/f basement. The parcel, measuring 114.12 feet by 200 ft., also features a curb cut along N 12th St. with a wide roll-down gate and a 2,600 s/f parking and loading area. The entire building is occupied by a single tenant with a lease expiring in August 2020. The flexible M1-2 zoning allows for approximately 43,000 buildable s/f of development rights for office, hotel, retail and light-manufacturing uses. The adjacent rising office project at 25 Kent Ave. – North Brooklyn’s first spec office building in 50 years – holds identical zoning and was recently granted a Special Permit, allowing the developer to build up to 4.80 FAR. Applied to this property, a Special Permit would allow approximately 103,000 buildable s/f. “This unique property lays in one of the most dynamic markets in Brooklyn, and we are excited about the future possibilities of the site,” said Garvin. 61 N 11th St. is ideally located among the neighborhood’s iconic new developments, including the adjoining Wythe Hotel and 25 Kent Ave. across the street. Additionally, the property offers convenient accessibility via the G and L trains at the Nassau Ave. and the Bedford Ave. stations, respectively. The immediate area is also serviced by the B32 bus line and the East River ferry.