TerraCRG sells 92-94 North 9th St. for $3.8 million

Brooklyn, NY TerraCRG negotiated the sale of 92-94 North 9^th St., a residential development site in Williamsburg, for $3.8 million, equating to $570 per buildable s/f.

TerraCRG’s Andrew Manasia, Daniel Lebor, and Thomas Horrigan served as the exclusive brokers for the transaction. The seller was Metropolitan Homes and the buyer, Elysee Investments, acquired the property to satisfy a 1031 exchange.

Situated between Wythe Ave. and Berry St., the 33.34 ft. x 100 ft. lot is across from The Hoxton Hotel and is between Bushwick Inlet Park and McCarren Park — two of Williamsburg’s most sought-after green spaces. Zoned R6B, the property allows for 6,668 buildable s/f as-of-right. The intended development will be for sale condominiums.

The site’s location offers access to local amenities, dining and nightlife, and transportation options. 

Located a 7-minute walk from the Bedford Avenue L train and close to the North Williamsburg ferry, the property offers direct access to Manhattan in under five minutes.

“This is a rare opportunity to develop in one of New York City’s most dynamic neighborhoods,” said Andrew Manasia, senior associate at TerraCRG. “With prices for premium condos breaching $2,000 per s/f, the site is well-situated to capitalize on the neighborhood’s continued strong demand.”