According to the Wall Street Journal, Williamsburg is in for a massive expansion of retail space. Heritage Equity Partners has bought an entire block — 80,000 square feet — bounded by Wythe Avenue, Kent Avenue, North 13th Street and North 14th Street. The property reportedly sold for over $30 million. Heritage Equities has been busy in the area. In June the firm’s CEO, Toby Moskovits, announced that Heritage was planning a 50-unit rental building at 310 North 7th St. as well as a hotel at 96 Wythe Avenue. According to the broker, Gabriel Saffioti, the firm is planning a Chelsea-Market style development. But that’s not all. “Parking will be a big element, and it has great retail potential possibly for a big-box tenant,” he told the Journal. Is Williamsburg ready for a big box store?
More retail is on the way further south on Wythe Avenue. According to Curbed, 92,000 square feet of retail space just came on the market at $50 a square foot at 185 Wythe. It will be inside a residential conversion.