5112 2nd Avenue
Update
01/10/22
Sunset Park Warehouse Trades for $85M
A 3-story warehouse at 5112 2nd Avenue in Brooklyn's Sunset Park neighborhood has just traded hands for $85 million. The property was purchased by O'Connor Capital Partners and CBRE from ASB Real Estate Investments, 60 Guilders, and Bastien Broda.
The building was originally constructed in 1920. It totals 209,000 square feet and has several rear loading docks for shipping & recieving operations. The lot is bounded by 51st Street, 2nd Avenue, and 52nd Street, and the property consumes more than half a block. The group of sellers will recieve a nice return on investment for this sale, having previously purchased the warehouse for just $47 million, back in October of 2017. Its unclear if the new owners bought the property with redevelopment intentions, or if it will continue to be used as a warehouse.
