The Reel

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A blog for breaking sales and neighborhood real estate news.

A single story brick industrial building at 83 Seigel Street, located on the north side of Seigel Street between Manhattan and Graham Avenues in Brooklyn’s East Williamsburg neighborhood, was sold in an all cash transaction valued at $470,000.

The building occupies the entire 2,500 square foot lot. The ceilings are approximately 14 feet high and there is a curb-cut and roll-up gate for truck access to the building. Two small offices and two bathrooms are located in the rear of the building. The site has 3,000 square feet of air rights for potential residential development. It is conveniently located a few blocks from the Montrose Avenue L train station and the Lorimer J, M train station. The sale price equates to $85.45 per buildable square foot.

“The sale of this site is a good example of the growing interest in East Williamsburg,” said Massey Knakal Director of Sales Mark Lively who exclusively handled this transaction. “There were several users interested in this property but due to the residential nature of the block development use made the most sense to the purchaser,” added Lively.

Click here for press release

Neighborhoods: Williamsburg/ Agents: Mark Lively