Charney Companies has completed the $20-million purchase of 143 Roebling St., a 100,000-square-foot building in Williamsburg, Brooklyn. Financing was provided by BH3 Fund Advisors in a structured transaction. Charney plans to fortify and restore the property.
“We are very excited to be taking over ownership for this building and know local residents will be as well,” said Justin Pelsinger, COO at Charney Companies. “We are looking forward to restoring and modernizing this neighborhood gem to better serve Brooklynites for generations to come.”
The building was originally built in 1907 and has undergone several renovations throughout the years. It has provided both residential and retail spaces, including the Roebling Tea Room, but has been vacant for the past few years.
JLL represented the seller, Los Angeles-based institutional lender Calmwater Capital, and negotiated directly with Charney Companies. The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Ethan Stanton, Brendan Maddigan and Michael Mazzara.
The post Charney Acquires 143 Roebling in Williamsburg appeared first on Connect CRE.
