The Real Deal New York

Condo building abandoned in 2009 hits market for $18M

February 10, 2014 04:15PM

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587-589 Flushing Avenue, Brooklyn

A seven-story condominium development built on the border of Bedford-Stuyvesant and South Williamsburg is on the market for $18 million. 

Abandoned in the middle of construction during the economic downturn in 2009, the 40-unit project at 587-589 Flushing Avenue was restarted with individual condos listed between $294,000 and $750,000, according to StreetEasy.

Now, Flushing Avenue Realty, LLC, the owner and developer, has put the entire development up for sale, BuzzBuzzHome reported. The LLC originally purchased the property for $15.7 million. Felicia De Chabris with Halstead Property has the listing.

The architect was Henry Radusky/Bricolage Architecture & Designs, according to the article. The tax abatement for the building expires in 2023, according to StreetEasy.  [BuzzBuzzHome] Angela Hunt

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