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New development coming to Dumbo?

55-57 Pearl Street
55-57 Pearl Street

A one-story warehouse in Dumbo could become a new ground-up development in the landmarked district, Brownstoner reported. The owners of 55-57 Pearl Street are heading to the Landmarks Preservation Commission next month with an application to raze the existing structure and to construct a new one. The lot, on the corner of Water Street, permits 24,823 buildable square feet, plus an extra 3,500 buildable square feet from the adjacent 177 Water Street.

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An entity named 55 Pearl Street LLC purchased the property in October. The warehouse traded for $4.25 million, Brownstoner said, with Massey Knakal handling the sale. [Brownstoner] —Zachary Kussin