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BROOKLYN, NY-Varet & Bogart LLC has acquired a former artist loft here. For $2.45 million, the investors picked up a four-story, 21,000-sf industrial site with 3,000 sf of adjacent land located at 249 Varet St. in the East Williamsburg section.

The new owners are exploring a variety of options, including commercial condos, which would be fairly new to the Brooklyn market, or work lofts. A neighboring property has also applied for a zoning variance for residential use, which is also a possibility. In the interim, the new owners are undertaking a renovation to reconfigure the building's interior space.

Howard Darsi of Kalmon Dolgin Affiliates represented the seller, Wolverine Management, a Long Island-based construction and management firm, while Allison Chambers of KDA repped the buyer. "When one door closes, another one opens," says Darsi. The deal was born out of a lost deal on a neighboring property. The broker had a deal for 257 Varet fall through because of a previously accepted down payment by the owner. He then landed the listing for the larger property at 249 Varet St.