55 Hope Street Update 08/29/22

Williamsburg Residential Building Trades for $80M

A 6-story mixed-use building, located at 55 Hope Street in Williamsburg, Brooklyn, has just been sold for $80 million. The structure was purchased by GAIA Real Estate from the previous owner, Hope Street Capital, in an arms-length transaction.

Originally constructed in 1907, the building was previously used as a pencil factory. In 2012, it received a residential conversion and was extensively renovated. Known now as "55 Hope", it contains loft apartments, offered in studio, one, and two-bedroom configurations.

Tenant amenities include a lobby lounge surrounded by bamboo gardens, a state-of-the-art fitness center, an 8,500 square foot, landscaped roof deck, a bicycle storage area, and a children's playroom. The ground floor also features square feet of retail space.

Altogether, 55 Hope Street totals square feet and stands feet tall. The property is a commuter's dream for anyone working in Downtown Brooklyn, Queens, or Manhattan, with stations for both the G and the L, situated just three blocks away.

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