Hired yet again by the United States Bankruptcy court system, IPG sold a complex Brooklyn warehouse in record time.
In a rare circumstance, 24th street in Brooklyn zones both residential and industrial properties. When Golden Millions, an Asian goods importer had to declare bankruptcy, the court hired IPG Real Estate immediately to sell their warehouse. Being 9,257 square feet, and in the mixed-use zoning, the assignment was complex. On that particular block there was both manufacturing and residential units.
Built in 1987, the building featured high ceilings, two drive in shipping doors, and one loading dock. “We had to find a client for whom drive-in was appropriate and dealt with smaller volume packaged goods to best utilize the basement access” said Keith Radhuber, the real estate agent who sold the building. “I knew we had to find a small packaging merchandiser or small service industry provider—a serious retailer only”.
The building was ultimately sold to a speciality retailer.
Written by: Lindsay Craven