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Marcus & Millichap closes $16.4M sale of Williamsburg mixed-use buildings

The 235-237 Kent Ave. property was previously sold for $12.3 million in 2021, and the buyer completed a 1031 exchange after selling another asset in downtown Manhattan.

Reported · Written up by our desk · Industry

Marcus & Millichap has closed the sale of 235-237 Kent Ave., a two-building mixed-use property in Brooklyn’s Williamsburg neighborhood, for $16.4 million, according to ConnectCRE.

The outlet said the brokerage described the deal as a “round trip” for the seller, who had acquired the property in a transaction brokered by Marcus & Millichap in 2021 for $12.3 million.

ConnectCRE reported that the buildings are turnkey and sit on Kent Avenue, a corridor it characterized as world-class. The buyer was completing a 1031 exchange following the sale of a property in downtown Manhattan.

The property, built in 1954, totals 13,575 square feet and includes 14 units, with 12 free-market two-bedroom apartments and two ground-floor commercial spaces. ConnectCRE added that the retail units are occupied by a restaurant and Ume Sushi.

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