DL Development and Argos Development Acquire East Williamsburg’s Breeze Building
In a strategic move for the Brooklyn real estate market, a joint venture between DL Development, based in Queens, and Argos Development from Brooklyn has successfully purchased the Breeze building. This three-story mixed-use property is situated at 314 Scholes Street, with an alternate address of 315 Meserole Street, in the vibrant East Williamsburg neighborhood, as confirmed by city records.
Details of the Acquisition
The partners acquired the Breeze for $19.3 million, representing a significant 30.5% decrease from its previous sales price of $27.8 million in 2016, held by Hudson Companies. The transaction was facilitated without the involvement of brokers, with Peter Volandes signing for the buyers and David Kramer representing Hudson, using the entity Sandy Scholes to finalize the sale.
Vision for the Property
Argos Development’s managing principal, Peter Volandes, articulated a vision for the Breeze, describing it as a prime hub for small businesses within a uniquely Brooklyn setting. This initiative aligns with the creative spirit of the local communities in East Williamsburg and Bushwick. Volandes stated, “We envision 315 Meserole Street as a prime destination for small businesses in a uniquely Brooklyn environment, a perfect location for the many creatives and innovators that call East Williamsburg and Bushwick home.”
Property Features and Current Tenants
Occupying approximately 100,000 square feet, the Breeze has been transformed from an industrial site into a mixed-use space that accommodates commercial, industrial, and retail tenants. Current tenants include:
- LoHi: Rooftop bar
- Happy Bull Pizza: Restaurant
- Substance Skatepark Brooklyn: Indoor skate park
- Scratch DJ Academy: Music school
Furthermore, the property boasts amenities such as a 6,000-square-foot courtyard, a rooftop bar, a retail arcade, a bike room, and pet-friendly communal areas, as detailed on the building’s website.
Future Plans and Community Impact
Brian Lockner from DL Development emphasized the importance of adapting to the changing landscape of East Williamsburg, stating, “As East Williamsburg changes, the buildings in the area must change with it.” The new owners plan to renovate the Breeze to better accommodate local entrepreneurs, creatives, and makers, reinforcing the building’s role as a community asset and destination for residents and businesses alike.
The buyers are committed to ensuring that under their stewardship, the Breeze will continue to be a vital resource for local businesses, enhancing the neighborhood’s cultural and commercial vibrancy.
For further inquiries, Isabelle Durso can be reached at id****@co****************.com.
