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Wharton Properties Acquires Williamsburg Property in Record-Setting Transaction

Wharton Properties has acquired 166 Berry Street in Williamsburg, Brooklyn for $20 million, or $3,226 per-square-foot, in what is a record-setting transaction for the submarket.

166 Berry Street.

NEW YORK CITY – Wharton Properties has acquired 166 Berry St. in the Williamsburg submarket of Brooklyn for $20 million, or $3,226 per-square-foot, in what is a record-setting transaction for the neighborhood. “The sale reinforces Williamsburg as a strong submarket that local and national retailers want to be,” Thomas Donovan, a partner at B6 Real Estate Advisors who arranged the transaction, tells GlobeSt.com.

Wharton, a real estate-focused developer, brought the 6,200-square-foot property from Avi Kendi, owner of the metal fabricator shop Metal Dimensions that currently occupies the building in what is a busy retail corridor in the submarket.

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Mariah Brown

Mariah Brown

Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.

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