ESRT Snags Another $46M Worth of Commercial Space in Williamsburg
By Emily Davis April 6, 2026 9:59 am
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Empire State Realty Trust continued its buying streak in Brooklyn’s Williamsburg neighborhood last week.
A limited liability company tied to ESRT shelled out $46 million for a newly completed commercial condo at the base of 127 Kent Avenue, according to city records made public Friday. Christina Chiu, president of ESRT, signed the deal for the buyer.
Ethan Stanton, Michael Mazzara and Brendan Maddigan of JLL brokered the deal for the space, which covers more than 21,400 square feet, The Real Deal reported.
The mixed-use, six-story condominium building at 127 Kent Avenue, known as the Sixth, launched sales in January. The waterfront location sits at the corner of Kent Avenue and North Sixth Street, less than a block south of Marsha P. Johnson State Park.
The commercial unit was sold by Joyland Group through the entity Kesef Tziri, and signed for by Joyland partner Joel Wertzberger. Joyland purchased the project for $43 million in 2024, according to city records. The Sixth was developed by Joyland Group and Prospect Developers.
It’s unclear whether ESRT’s new commercial condo at the Williamsburg site is retail space, but the firm has remained especially active in retail deals in the neighborhood, where it announced plans in 2024 to purchase $195 million worth of retail properties along the North Sixth Street shopping corridor in all cash.
The spending spree included $68 million at 81-91 North Sixth Street, $28.3 million for 134 North Sixth Street, $18.1 million for 124 and 128 North Sixth Street, and $28.6 million for 100-104 North Sixth Street.
The real estate investment trust (REIT) also picked up two adjacent properties for $31 million at 88-90 North Sixth Street and 169 Wythe Avenue last year — a slice of its $417 million in all-cash acquisitions throughout 2025.
The REIT also ended 2025 with a portfolio spanning 7.6 million square feet of office space, 800,000 square feet of retail space, and 743 residential units. ESRT announced in February that it had succeeded in concentrating its portfolio entirely in New York City.
Spokespeople for ESRT, Joyland and JLL did not immediately respond to requests for comment.
Emily Davis can be reached at edavis@commercialobserver.com.
