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56N9
Asset ClassMixed Use, Multifamily, Retail
Square Feet99,878
56N9
overview of deal

Overview

56N9 is a newly constructed 6 story mixed use asset spanning 99,878 SF on the corner of North 9th Street and Kent Avenue along the Williamsburg waterfront. The asset is comprised of 44 well-appointed luxury residential units and 33,000 square feet of fully occupied retail and commercial space as well as a multi-level covered parking garage.

 

56N9 boasts unparalleled street exposure with over 270' feet of wraparound frontage directly across from the revamped Bushwick Inlet Park and a few steps away from Marsha P. Johnson State Park. Tucked away from the hustle of Kent Avenue, the residential units offer private, boutique waterfront living with a full service amenity package and inimitable views of the Manhattan Skyline.

 

The fully occupied retail and commercial component is spread across three floors with a nearly 10 Year WALT. 56N9 is home to tenants such as Ms. Lam Montessori, Veterinary Emergency Group, Macoletta Pizza and more - these tenants represent the essence of Williamsburg's live-work-play environment and serve the needs of the property's residents and Williamsburg denizens.

 

The offering at 56N9 presents investors the opportunity to acquire a fully occupied, core mixed use asset with resilient cash flow at a discount to replacement in an exceptional Williamsburg location.

 

 

 

 

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Investment Highlights

Square Feet
99,878
# Units
44
Deal Size
$80 M
Year Built
2018
Cap Rate
5.78%
Occupancy
100%
Weighted Average Lease Term
10 Years
Retail SF
32,975
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56 N 9th StBrooklyn, NY 11249

For additional information please contact

Chirag DoshiVice President212-612-0257cdoshi@meridiancapital.com
Amit DoshiSenior Executive Managing Director212-468-5959adoshi@meridiancapital.com
Shallini MehraExecutive Managing Director212-468-5958smehra@meridiancapital.com

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Listing provided by Revere CRE