Double U Development Sells Williamsburg Property for $66M in Discounted Deal

In a notable Brooklyn transaction, Michael Weitzman’s Double U Development has sold a 100,000-square-foot mixed-use property at 56 North 9th Street in Williamsburg for $66.3 million. The buyer is a joint venture between Boston-based Rockpoint and Dallas-based Lincoln Property Company. Despite its premium location near the waterfront and full occupancy, the property was sold $15 million below its original $80 million asking price.

The six-story building, developed in 2019, features 45 residential units — all leased — with recent rents for two-bedroom units recorded above $7,000. The building also houses 27,000 square feet of commercial space across its lower three floors. Notable tenants include the Veterinary Emergency Group, which leased 5,000 square feet at a rate of $128 per square foot. The building’s current net operating income is $4.4 million, according to Meridian Capital Group, which handled the listing.