JZ Capital Partners and its property partner, Red Sky Capital, are buying 192 Bedford Avenue in Williamsburg, New York. The property features frontage of 20 ft. on Bedford Avenue and offers up to
6,000 sq. ft. of build-to-suit multi-level retail space with only one short term lease (Mizu, a Japanese restaurant) encumbering the property. JZ reckon the property represents an excellent opportunity for any retailer looking to enter the popular and vibrant neighbourhood.
The purchase price for the property was US$12.3 million, funded with US$9.3 million in equity, of which JZCP provided US$7.0 million.
JZCP : JZ Capital adds another Williamsburg property