The Real Deal New York

Developer plans 92-unit rental for W’burg site

November 05, 2010 08:30AM

A 40,000-square-foot site on Williamsburg’s Union Avenue, near North 9th Street, has sold to a New York developer who plans to start building a 92-unit rental building there late next year, Crain’s reported. Like many new residential projects these days, this one was originally supposed to be a condominium, until the market shifted in favor of rentals. The site, which allows for more than 112,000 square feet of residential development, went for $13.6 million in cash, according to Neil Dolgin of Kalmon Dolgin Affiliates, who brokered the deal with colleague Robert Klein. Dolgin would not identify the buyer or seller. [Crain’s]

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