New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Boricua College Trades for $31M in Williamsburg
Cushman & Wakefield has arranged the sale of the Boricua College campus in Williamsburg to David Dweck. The three-building property at 186 N. 6th St. sold for $31.1 million.
“This unique three-building offering in a tier one location appealed to an array of end-users, investors, charter schools and, of course, developers,” said Cushman & Wakefield’s Guthrie Garvin. Added the firm’s Brendan Maddigan, “Large building conversions in a great location are very rare in Brooklyn, as shown by the nearly 75 seriously-interested developers who pursued this highly sought-after opportunity.”
Garvin and Maddigan represented Boricua College, along with Cushman & Wakefield colleagues Ethan Stanton, Michael Gembecki and Alexander Ball. Cushman & Wakefield’s Gideon Gil arranged $30 million in stretch financing from G4 Capital Partners.
With a gross floor area of 68,735 square feet, the property’s three buildings offer unique restructuring value, since each asset differs in configuration and size.
For comments, questions or concerns, please contact Paul Bubny
- ◦Development
- ◦Sale/Acquisition
