Zeitchik and Zach of EPIC handle $2.25 million sale

Shay Zach, EPIC Commercial Realty

Justin Zeitchik, EPIC Commercial Realty

Brooklyn, NY EPIC Commercial Realty has sold 221 Devoe St. for $2.25 million. The property is currently a three-story residential building with three units and 1,625 s/f of additional air rights.

Situated on Devoe Street, between Bushwick Avenue and Olive Street, the building is located just three blocks from the Graham Avenue [L] train station. The building will be delivered vacant allowing for immediate development.

According to EPIC investment sales associate, Justin Zeitchik, “This property sold for a record breaking price per s/f due to its location in Williamsburg as well as the buyer’s ability to immediately use the existing structure to convert the building from three units to seven units.”

As one of the most sought after neighborhoods in Brooklyn, Williamsburg’s commercial and residential markets are in high demand. The neighborhood has undergone massive development over the past few years as rental and sale prices reach amongst the highest in the country. Williamsburg is primarily known for its hip culture, bustling nightlife and renowned restaurants and shops. With one of New York’s best school systems and abundance of green space through McCarren Park and East River State Park, the neighborhood is home to many families and young professionals. It is ideally located only minutes away from Manhattan with the [L,G,J,M,Z] lines acting as the main public transportation routes. It also offers easy access to outside city destinations through the Brooklyn Queens Expressway.   

Zeitchik represented the seller and EPIC senior associate broker, Shay Zach, represented the buyer.

221 Devoe Street - Brooklyn, NY