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aerial view of The Edge Retail Aerial view of The Edge Retail/Image provided by Gazit Horizons

NEW YORK CITY—Gazit-Globe through its subsidiary, Gazit Horizons, acquired The Edge Retail, a 60,000 square-foot retail condominium complex in Williamsburg, Brooklyn for $47.3 million or $790 per square foot. Madison Marquette had purchased The Edge Retail for $45.5 million in 2014. The asset is the retail component of the Edge Condominiums built by Jeffrey Levine’s Douglaston Development. The 900-unit luxury condos have a 500-car parking garage and 1.75 acres of open space and are close to a New York City ferry terminal.

The Edge Retail comprises four buildings, extending for two blocks along Kent Avenue, between North 4th and North 6th streets. Anchored by a CVS Pharmacy and Brooklyn Harvest market, the retail space is 81% leased.

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Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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