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MRC Picks Up Iconic Brooklyn Retail Condo

NEW YORK CITY—Located in a landmarked Downtown building, the currently vacant spot offers over 41,000 square feet of space.

By Rayna Katz | Updated on July 08, 2015

NEW YORK CITY—Madison Realty Capital has acquired a 41,400-square-foot retail condominium property in the Fort Greene neighborhood of Brooklyn. Located within the landmarked One Hanson Place building, the property was sold for just over $20 million to Madison and joint venture partner Siguler Guff, a private equity investment firm.

The property sits at the base of the iconic 41-story, 512-foot tall One Hanson Place, built in 1927 and the one-time headquarters for Williamsburg Savings Bank. MRC will lead the effort to reposition and modernize the currently vacant property into a premium retail asset before leasing the space either to a single tenant or several long-term tenants.

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