A stalled Williamsburg condominium that was reincarnated through a loan-to-own deal last year is back on track for completion and preparing to hit the market this summer. Unlike many of its back-from-the-dead peers, 170 North 5th Street is not going rental.
Instead, its new owners have decided to stick with the original developers’ plans, tapping the Corcoran Group’s Lior Barak and Christine Blackburn, of the high-grossing Barak/Blackburn Group, to sell off the 16 units as condos.
Sales are slated to launch in late June or early July, Blackburn said, and the building should be ready for occupancy by October.
The 17,000-square-foot building, two blocks from the L train’s Bedford Avenue stop and designed by RKT&B Architecture and Urban Design, was built — mostly — by Lucky Boy Development, which purchased the site for $2.6 million in 2005. … [more]