The Real Deal New York

New development coming to Dumbo?

January 22, 2013 02:00PM

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.

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