savation-army-wb

Salvation Army sells its Williamsburg N7/Bedford location for $36 million

real estate

Williamsburg’s Salvation Army demolished its N. 7th and Bedford location (aka Hell’s Kitchen on Daredevil) two years ago, saying they were rebuilding the store with no plans to sell. But, as being perhaps the hottest vacant corner in all of Williamsburg, plans have now changed. Via Brownstoner:

Thor Equities has struck a deal with Salvation Army to buy its prime corner spot at 176 Bedford Avenue, the developer announced today. The price was not disclosed, but sources tell us it is $36,000,000.

The deal is in contract and has not yet closed. The intersection is perhaps the most heavily trafficked spot in red-hot Williamsburg. It sits over the Bedford Avenue L station.

The site could potentially support 14,400 square feet of “rentable” space, said a press release. It fronts North 7th and Bedford for 120 square feet.

“In addition to undergoing an extraordinary amount of residential and commercial development in recent years, Bedford Avenue in Williamsburg has become a major shopping and dining hub, with strong demand and limited availability of new, high-quality retail space,” Thor Equities Joseph Sitt said in a prepared statement.

In-the-works locations of Apple and Whole Foods stores are just a couple blocks away.

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