Dumbo building sale could change retail landscape

March 13, 2013 01:00PM

Dumbo could soon see a massive new retail center along Jay Street, after last month’s $25 million sale of a block-wide warehouse to Silverstone Property Group, the Brooklyn Paper reported.

The nearly football field-sized building, located between Water and Plymouth streets in Dumbo’s historic district, is perfect for a major commercial development, like a supermarket or something even bigger, according to Justina Lombardo, a spokesperson for Massey Knakal Realty Services, which handled the sale of the building.  

And while Silverstone Property Group is remaining tight lipped about what they have in store for the property, Massey Knakal director of sales Stephen Palmese is suggesting huge scale retail.

“This site has the largest footprint in [the neighborhood], and possibly in all of the greater Downtown Brooklyn market, which makes it so unique,” Palmese said. “The ability to offer big box retail could really change the landscape.”

The three-story property is currently used for manufacturing and has lenient mixed-use zoning that could even allow residential use . However, any expansion into, for instance a five or six story building, would require permission from the Landmarks Preservation Commission. [Brooklyn Paper]Christopher Cameron