The building reportedly sold for $37 million
After more than a year on the market, it looks like the Williamsburg building that’s home to two of the neighborhood’s most popular destinations—the Brooklyn Brewery and Brooklyn Bowl—finally found a buyer.
According to the Real Deal, the 29,000-square-foot warehouse was snapped up by Atlas Capital Group, and though it was initially expected to fetch up to $50 million, it went for a slightly lower $37 million. Atlas is the developer behind such high-profile projects as the redevelopment of St. John’s Terminal in Lower Manhattan, and the pricey Annabelle Selldorf-designed condos at 42 Crosby Street.
According to TRD, "sources said the Midtown East-based real estate investment firm is likely to eventually reposition" the two-story building, which comes with the potential of nearly 69,000 square feet of buildable space. But even with the sale, the two businesses won’t be going anywhere for a while: Brooklyn Bowl’s lease won’t expire for another five years, and the Brewery’s is good through 2025.
As TRD notes, the Brewery is in the process of expanding to a new, enormous space in the Brooklyn Navy Yard, where it’ll join other New York businesses like Russ & Daughters and Mast Brothers.
- Home of Brooklyn Brewery, Brooklyn Bowl in contract for $37M [TRD]
- Brooklyn Brewery May Leave Its Williamsburg Space [Curbed]
- Brooklyn Brewery, Bowl Building Is For Sale, But Don't Panic [Curbed]