The Manhattes Group has been retained on an exclusive basis to sell 220,000 square feet of industrial space at 29 Ryerson Street.
The property is located on the corner of Ryerson Street and Flushing Avenue in Brooklyn’s Navy Yard neighborhood. The asking price is $26,000,000.
The site consists of an 8 story 192,000 Square Foot industrial building, a smaller 1 story 8,070 Square Foot industrial building and a parking lot separating the two buildings. The property will be delivered vacant during the first quarter of 2014.
“It is extremely rare that an industrial property of this size becomes available within striking distance of Manhattan. The property presents an excellent opportunity to an end user or an investor in New York’s hottest borough,” says Alan Shmaruk the principal of The Manhattes Group, who is marketing the property along with Michael Sherman.
The site is located in the Wallabout / South Williamsburg Section of Brooklyn across the street from the Brooklyn Navy Yard.
The Brooklyn Navy Yard has reported that the Navy Yard is now full and that they have 150 businesses on a waiting list. One of the Navy Yard’s major tenants, Steiner Studios, is planning an expansion that could transform its home into one of the major centers of movie production in the country.
The expansion would more than double the size of the Studio by adding over 328,000 s/f to their existing 300,000 current set by adding a back lot for shooting New York streetscape-style exteriors, space for media offices, and classrooms for the study of film and entertainment.
