Buyers explore options for industrial building.

Kalmon Dolgin Affiliates has arranged the sale of a four-story, 21,000 s/f industrial loft building with 3,000 s/f of adjacent land located at 249 Varet Street in the East Williamsburg section of Brooklyn, NY.

Neil Dolgin, executive vice president of Kalmon Dolgin Affiliates, made the announcement. The sale price was $2.45 million

Howard Darsi of Kalmon Dolgin Affiliates (KDA) represented the seller, Wolverine Management, a major Long Island-based construction and management firm, while Allison Chambers of KDA represented the buyer, Varet & Bogart LLC.

The deal is a perfect example of Kalmon Dolgin's street-smart approach to industrial real estate, and was born out of a lost deal on a neighboring property. Howard Darsi was a first year rookie broker when a deal for 257 Varet Street fell through because of a previously accepted down payment by the owner. 'When one door closes, another one opens," recalls Darsi, who refused to let the setback deter him and soon landed the listing for the larger property at 249 Varet Street.

"When we originally got the listing in December 2004, there were about 20 artists in the building paying below market rents who had to be relocated in order deliver the property vacant and secure the owner the price he wanted," said Darsi.

"Through Neil Dolgin's vast knowledge and experience and my own tenacity and persistence, we were able to structure win-win deals with all the tenants on behalf of the owner and deliver the property vacant."

The new owners are exploring a variety of options, including commercial condos, which would be fairly new to the Brooklyn market, or work lofts. A neighboring property has also applied for a zoning variance for residential use, which is also a possibility. In the interim, the new owners are undertaking a major renovation to reconfigure the building's interior space.

Kalmon Dolgin Affiliates continues to be the leading brokerage in the East Williamsburg industrial market, one of the last remaining major industrial areas in the northern part of the borough. Said Neil Dolgin, "From the initial listing through the marketing and relocation of tenants, Kalmon Dolgin was in the owner's corner every step of the way."