On the Market

South Williamsburg Property Asking $7.25M

340 Wythe Ave

340 Wythe Avenue. (TerraCRG)

TerraCRG is marketing an L-shaped parcel at 340 Wythe Avenue that’s one block from the 2,200-unit former Domino sugar factory development site and on the same block as the new Vice Media headquarters, Commercial Observer has learned.

The warehouse boasts 17,200 buildable square feet in a neighborhood that’s added over 10,000 luxury units since the 2005 rezoning of the area and has over 5,800 more high-priced apartments in the works, said TerraCRG Senior Vice President Melissa DiBella Warren.

“According to Vice Media, three-quarters of their 400 employees live in the neighborhood,” Ms. Warren said in an email. “This metric exemplifies the desire for tech companies and creative agencies to open up shop in the neighborhood where they can draw from the existing talent pool of candidates already in the neighborhood and moving to the neighborhood.”

Williamsburg Bridge Realty Corp. currently owns the structure at Wythe Avenue and South 2nd Street.

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