Cushman & Wakefield today announced that the real estate services firm has been retained on an exclusive basis to market 30-38 Franklin Street, a commercial building with development potential in Greenpoint, Brooklyn.
A Cushman & Wakefield team consisting of Executive Managing Director Brendan Maddigan and Director Ethan Stanton will be leading the marketing efforts on behalf of the property’s seller, Franklin Street Associates, LLC.
“This property is a significant commercial assemblage with more than 120 feet of prime frontage on Franklin Street in the Greenpoint and Williamsburg industrial business zones,” said Brendan Maddigan ofCushman & Wakefield. “It’s particularly valuable when considering the nearly 50% surge in asking retail rents along Franklin Street since 2016.”
The 15,625-square-foot building spans four tax lots and offers more than 200 feet of combined frontage along Franklin and Banker Streets. The parcel includes a single-story commercial building on two of the lots, a three-story commercial building on the third lot, and a single-story shed on the remaining lot. The site, which offers additional development rights, will be delivered entirely vacant, allowing for immediate development or conversion.
In close proximity to the G subway station, 30-38 Franklin is walking distance from multiple MTA bus stops and Citibike stations. In addition, the property is located several blocks from the East River Ferry, allowing for easy access to and from Manhattan and throughout Brooklyn and Queens. Currently, there are more than 7,000 new residential units planned for development on the Greenpoint waterfront.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real
estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.
