Urban Standard Capital buys 320 Court St. for $4.975 million

Brooklyn, NY Urban Standard Capital purchased 320 Court St. in the Carroll Gardens neighborhood for $4.975 million.

“Urban Standard Capital is one of few firms with committed capital that is focused on the middle market space. This acquisition continues our strategy of leveraging our strong capital base to acquire properties quickly and opportunistically. Our ability to execute quickly and provide sellers with certainty of execution is of growing importance in a softening market.” said company founder, Seth Weissman.   

CPEX recently named Court St. the 10th best retail corridor in country in its 2016 Brooklyn Retail Report. With 50 ft. of front on Court St.t, plus 40 ft. of frontage on Sackett St., the property has prime retail ground floor space with a full basement which was delivered vacant at the time of purchase. The second floor retail space is currently leased to Lift / Next Level Floats (the East Coast’s largest premier sensory deprivation / floatation therapy center) and the upper floor is residential rental units.

The vacant ground floor retail space is currently being jointly represented by Nicole Liebman of HUDSON and Chris Havens of CitiHabitats. The building was purchased at a bankruptcy auction facilitated by Auction Advisors.