Two Sunset Park buildings on sale for nearly $50 million

It takes two to make a sale go big.

As Sunset Park’s increased development continues, two warehouse buildings connected to each other, 341 and 353 39th Street, have recently been put on the market for nearly  $50 million.

As first reported by Crain’s New York, the properties’ current owner, the Hampshire Real Estate Company, has hired Bob Knakal, chairperson of New York Investment Sales for Cushman & Wakefield, to sell the lucrative property.

Although the buildings appear a bit worn, Cushman & Wakefield is selling the total 162,951 square foot space for $49,750,000, according to its official website. The site also mentions large open floor plates and the fact that the structures will be delivered fully vacant for the buyer.

One of the two Sunset buildings on sale for $50 million.
One of the two Sunset buildings on sale for $50 million.

Knakal discussed his confidence about selling the two buildings and the boom in Sunset. “These properties are poised to take advantage of the wave of creative office space that is being created and absorbed throughout Brooklyn,” he told the Home Reporter. “Sunset Park is one of the new hotbeds for this type of product and, thus far, the interest in these assets has been tremendous.”

Another positive for possible buyers is the buildings’ location within the community. The 10 and seven-story properties are located three blocks from Industry City, a six-million-square-foot complex which is currently home to about 400 businesses, with a steady stream of future ones moving in within the coming months.

Sunset Park resident and founder of the Sunset Parker website Tony Giordano believes that the sale has the potential to benefit the community’s growth. “The buildings are prime Sunset Park commercial properties and their location on 39th Street, which is a truck route, makes it very desirable from a business standpoint,” he said. “The fact that the Brooklyn Nets are building their new training center just down the street may make the buildings attractive to positive community uses.”

Giordano hopes whatever comes to the space will provide additional jobs. “I imagine the two 39th Street buildings to point us in a positive direction and I hope the elected officials will watch what private industry can do and then emulate that,” he added. “I also see these buildings as a location for not just jobs but for positive purposes that enhance the community rather than add to truck traffic and air pollution.”

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