NEW YORK CITY-A partnership led by Madison Marquette is reportedly set to purchase a retail condo of approximately 60,000 square feet on the waterfront of Williamsburg, Brooklyn for more than $40 million.
The Washington, DC-based real estate investment firm is set to acquire the space at the base of a 30-story tower at The Edge, a mixed-use two block long complex from developer Douglas Development. The complex has 580 condo units and 400 moderate-income rental units in low-rise buildings adjacent to the tower, according to Crain's New York Business.
Andrew Scandalios of HFF marketed the retail space for Douglaston Development and is arranging the sale to Madison Marquette.
Among the tenants of the retail space include: CVS, Brooklyn Bodyburn, restaurant Fabrica, a bike store, a liquor store, and a preschool. Douglaston Development is in the process of building a second 40-story tower at the complex that overlooks the East River that will house 575 market-rate rental units. See story in Crain's New York Business.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
