Empire State Realty Trust Buys More Williamsburg Space for $31M

Thomas Durels, executive vice president of real estate at ESRT, signed for the buyer, while ABA owner Jacob Lerman signed for the seller, which used the entity ABA Realty Management, records show.

JLL‘s Ethan Stanton, Brendan Maddigan and Michael Mazzara brokered the deal.

“We’re pleased to have arranged another sale in one of the most vibrant and sought-after retail corridors in New York City,” Stanton said in a statement to Commercial Observer.

“The combination of scale, frontage and adjacency to world-class retail creates an exceptional platform for long-term value creation and underscores our commitment to guiding clients toward transformative investments that define the future of the neighborhood,” Stanton added.

A spokesperson for ESRT did not immediately respond to a request for comment, while Lerman could not be reached for comment.

ESRT signed a contract to buy the two-story retail building at 88-90 North Sixth Street and the three-story, 11-unit residential building at 169 Wythe Avenue from ABA in February, PincusCo reported. The retail space at the North Sixth Street address appears to be currently vacant.

News of the deal’s completion comes after ESRT completed its $195 million acquisition of prime retail space along North Sixth Street in November, as CO previously reported.

That deal included the firm’s $143 million purchase of four properties along the popular shopping corridor in October and its $52 million acquisition of two final properties on the street in November, CO reported.

Tenants of ESRT’s high-profile retail portfolio along North Sixth Street include luxury brand Hermes, fashion retailer Cos, tech giant Google, eyeglasses seller Warby Parker and footwear retailer Nike.

Isabelle Durso can be reached at idurso@commercialobserver.com.