Kalmon Dolgin Affiliates, Inc. (KDA) has arranged the sale of a 9,500-square-foot warehouse at 517 Stagg Street in the East Williamsburg section of Brooklyn for $2 million. Kalmon Dolgin and Neil Dolgin, co-presidents of Kalmon Dolgin Affiliates, made the announcement.
Jacques Wadler and Vincent Lopez of KDA represented the seller, Varick Planning Mill Inc., while Joel Kohn and Avrum Lieber, also of KDA, represented the buyer, 10 Holdings LLC. Kohn and Lieber were also tapped by the buyer as the exclusive leasing agents for the recently acquired property.
The building at 517 Stagg Street is a 9,500-square-foot corner property offering 19,080 buildable square feet. The asset is currently vacant; for the past seven years, Along Products Corp., a restaurant booth manufacturer, was in the space. Prior to that, the owner of the building, Dimension Lumber Inc., a wooden molding manufacturer that created moldings for floors, ceilings, etc., occupied the building for 31 years
The buyer, 10 Holdings LLC plans to add another floor of approximately 9,500 square feet to 517 Stagg Street for a total of 19,000 SF, for use as offices or small commercial work place rentals. Amenities at the building include six drive-in doors, 14-22-foot ceilings, a dry sprinkler system, floor drains, heavy power, and gas heat. Zoning is M3-1 with an FAR of 2.0.
Located between Stewart and Varick avenues, 517 Stagg Street is near several major thoroughfares including Metropolitan Avenue, Flushing Avenue, and Grand Street. Other transportation options include the Brooklyn Queens Expressway, Q54 and Q59 bus routes, and the L subway stop.