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$100 Million Deal May Oust Egg, Radegast, Mast Bros.

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Will gentrification do away with Williamsburg as we know it?

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Radegast Hall & Biergarten
Radegast Hall & Biergarten

Another gentrification punch is hitting Williamsburg, possibly in a big way. Waterbridge Capital is in contract for an $100 million deal to buy 103-119 North 3rd Street and 188-190 Berry Street, better known as the home of Radegast Beer Hall, Egg, Mast Brothers' chocolate factory, and several others. The Real Deal reports that the businesses "will be repositioned over time." This means that when leases expire, the rents will likely skyrocket (by as much as two or three fold) and push out the current residents. Eater has reached out to some of the businesses for comment. Stay tuned.

Update: Rick Mast says that the chocolate factory and shop aren't going anywhere. "We've always had an amazing relationship with our landlord," he explains. And he is certain that they will be able to establish a strong relationship with any future landlords. Plus, there's still five years left on the lease.
· Waterbridge in $100M-plus contract on Williamsburg's North 3rd St. [TRD]

103-119 North 3rd Street, Brooklyn, NY

103-119 North 3rd Street, Brooklyn, NY

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