New York & Tri-State + Outer + Apartments | January 28, 2019

Renovated Williamsburg Apartments Go Up for Sale

GFI Realty Services has been tapped to sell 47 Withers St., a fully-renovated walk-up apartment building in Brooklyn’s Williamsburg section. The firm’s Yehoshua Shamel will oversee marketing of the property; pricing is targeted at $5.3 million.

The property, which is located near the G and L subway lines, recently underwent an Alt-1 renovation, and now features six apartments and a ground-floor commercial unit with a large outdoor space. The residential units are fully-occupied, with modern condo finishes and hardwood floors. The vacant commercial space may be used as a restaurant or café.

“The demand for high-end product in Williamsburg continues to increase from both investors and prospective residents,” Shamel said. “This property’s commercial space is ideally suited for a wide range of uses, from restaurant to apparel to medical office, and we anticipate interest from both owner-users and traditional real estate investors.”

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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).