Heritage Equity Closes on W’burg Site for $28.3M
Toby Moskovits‘ Heritage Equity Partners has closed on the purchase of Cooper Tank & Welding Corp.‘s 2.3-acre site in East Williamsburg for roughly $28.3 million, Commercial Observer has learned.
The sale of 215 Moore Street closed last Tuesday, according to Seth Peyser with Epic Commercial Realty, who represented Ms. Moskovits in the deal.
Heritage plans to build out tech and creative office space at the site, which can accommodate a 170,000-square-foot commercial development, sources with intimate knowledge of the deal previously told Commercial Observer. The site, which is comprised of five industrial buildings totaling 47,000 square feet, spans from Seigel to Moore Streets between White Street and Bushwick Avenue.
Massey Knakal Realty Services‘ Stephen Palmese, Mark Lively, Brendan Maddigan and Michael Mazzara marketed the site on behalf of Cooper Tank & Welding Corp. The initial asking price was reduced to $29.5 million from $35 million. Mr. Palmese didn’t immediately return a call seeking comment.