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Con Ed Trades South Williamsburg Parcel
Con Edison has sold a commercial development site at 500 Kent Ave. in South Williamsburg for $50 million. A JLL Capital Markets team of Stephen Palmese, Brendan Maddigan, Michael Mazzara and Ethan Stanton arranged the sale of the 2.65-acre site to 500 Kent LLC.
“There was an incredible response to this offering,” said Maddigan. The buyers, added Palmese, “were excited for what will clearly be an iconic project on the waterfront straddling the Brooklyn Navy Yard and South Williamsburg.”
The site, which formerly held a power station, can accommodate up to 230,500 buildable square feet. Current zoning allows it to be designated for a variety of commercial uses, including retail, office, light manufacturing and mixed-use.
The lot is adjacent to the up-and-coming area of the Brooklyn Navy Yard and the Brooklyn tech triangle. It offers close proximity to the East River Ferry and the J, M and Z subway lines.
For comments, questions or concerns, please contact Paul Bubny
- ◦Development
- ◦Sale/Acquisition
