Retal Condo in New York City Sells for $45.5 Million

by Nate Hunter

New York City — Madison Marquette acquired the 60,000-square-foot retail portion of The Edge in Brooklyn.

New York City — The retail condo portion of The Edge, a waterfront mixed-use property in the Brooklyn suburb of Williamsburg, has sold for $45.5 million. Madison Marquette acquired the retail portion, which totals 64,000 square feet, from Douglaston Development. Built in 2010, the property is part of The Edge project, a master-planned community that includes condominiums and residential units in four buildings. The retail component is long-term leased to Brooklyn Harvest Market, CVS/pharmacy, Ride Brooklyn and Fabbrica Cafe.

Andrew Scandalios, Jose Cruz, Jeffrey Julien, Kevin O’Hearn and Rob Rizzi with HFF represented the seller in the transaction.

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