Burg Mixed-Use Buildings Sell for $5.3M

Two adjacent commercial properties in the heart of North Williamsburg sold for $5,300,000 in an all-cash deal to some local investors, according to real estate firm CPEX, which brokered the Dec. 3 sale. The red-brick buildings at 110 and 112 North 6th Street between Wythe Avenue and Berry Street were delivered partially vacant. Current retail tenants include Go Yoga, Honey and Sweet William. The 16-unit, 18,00-square-foot mixed-use buildings are zoned for residential, retail and manufacturing. The sale price worked out to be $284 per square foot. The buyer was identified as an LLC named North 6th Property. A press release from CPEX noted the buildings are close to the Bedford L stop and on the way to luxury developments on the waterfront as well as the Brooklyn Flea. “The buyers are a group of local investors that see the enormous upside in commercial and residential values on this up-and-coming street,” said CPEX Managing Director Scott Burk. “This strip has some of the best foot traffic in Williamsburg and we are confident it will continue to develop.”