Wadler and Lopez of KDA arrange $2 million sale

Jacques Wadler, KDA

Vincent Lopez, KDA

Brooklyn, NY Kalmon Dolgin Affiliates, Inc. (KDA) has arranged the sale of a 9,500 s/f warehouse at 517 Stagg St. in the East Williamsburg section for $2 million.

Jacques Wadler and Vincent Lopez of KDA represented the seller, Varick Planning Mill Inc., while Joel Kohn and Avrum Lieber, also of KDA, represented the buyer, 10 Holdings LLC. Kohn and Lieber were also tapped by the buyer as the exclusive leasing agents for the acquired property.

The building at 517 Stagg St. is a 9,500 s/f corner property offering 19,080 buildable s/f. The asset is currently vacant for the past seven years, Along Products Corp., a restaurant booth manufacturer, was in the space. Prior to that, the owner of the building, Dimension Lumber Inc., a wooden molding manufacturer that created moldings for floors, ceilings, etc., occupied the building for 31 years

The buyer, 10 Holdings LLC plans to add another floor of approximately 9,500 s/f to 517 Stagg St. for a total of 19,000 s/f, for use as offices or small commercial work place rentals. Amenities at the building include six drive-in doors, 14-22-ft. ceilings, a dry sprinkler system, floor drains, heavy power, and gas heat. Zoning is M3-1 with an FAR of 2.0.

Located between Stewart and Varick Aves., 517 Stagg St. is near several major thoroughfares including Metropolitan Ave., Flushing Ave., and Grand St. Other transportation options include the Brooklyn Queens Expressway, Q54 and Q59 bus routes, and the L subway stop.

Founded in 1904, Kalmon Dolgin Affiliates offers over a century’s worth of experience in the management, sale, leasing and marketing of commercial and industrial property throughout the New York Metropolitan region. In addition to its staff of 35 brokers, Kalmon Dolgin Affiliates, through its subsidiary, KND Management Co., Inc., operates a portfolio of over six million square feet of industrial, office, medical and retail space in ten states. Their highly-trained professionals offer a practical, street-wise approach to real estate, supported by the latest in real estate management and research technology and four generations of unparalleled expertise.