New York & Tri-State + Outer + Industrial | May 10, 2021

Industrial Site in Bushwick Will Be Repurposed as Creative Space

Newmark arranged the purchase of 7 Knickerbocker Ave. in Bushwick, Brooklyn by Worthless Bricks, LLC. The 10,000-square-foot industrial space with dual frontage on both Johnson and Knickerbocker avenues sold for $5.3 million.

Senior managing director Brian Segall and associate George Martinecz represented the buyer, while Larry Roberts was the in-house representative of the seller, Washington Square Partners. The new owners will repurpose the property as a studio and event space for emerging artists across a variety of mediums, promoting creativity in the East Williamsburg/Bushwick neighborhood.

“We anticipate more owner-users acquiring real estate for near-term occupancy and long-term land banking in an appreciating market such as this,” said Segall. “Our deep connections to the Brooklyn industrial market allowed us to leverage our relationships in the area and helped to quickly identify the right space for the buyer to plant their flag within the heart of this creative landscape.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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