Empire State Realty Trust (ESRT) acquired a newly constructed, prime retail asset located at 41-55 North 6th St. in Williamsburg, Brooklyn, N.Y., for $46 million at the end of the first quarter. The approximately 22,000-square-foot property, currently vacant, is located between Kent and Wythe Avenues and is in near ESRT’s existing 102,000-square-foot portfolio of prime retail assets along North 6th Street.
This acquisition, together with the ESRT’s purchase of 86-90 North 6th St. in mid-2025, completed the redeployment of investment capacity from the December 2025 disposition of Metro Center without recognition of a taxable gain. These transactions were the final execution of ESRT’s strategy to recycle capital from non-core suburban assets into high-quality NYC assets with stronger long-term cash flow growth prospects.
ESRT also closed on a $53.5 million mortgage for 10 Union Square East, a 58,000-square-foot prime retail asset anchored by a long-term lease with
