Long-stalled condo, rental in Williamsburg trade for $10.5M

New York /
Aug.August 30, 2013 05:20 PM

A Williamsburg condominium and a luxury rental building, both developed by a company that faltered during the recession, traded together for $10.5 million to an undisclosed buyer, public records show.

The buildings, at 203 and 205 North Eighth Street, sold to an entity named 203-205 North 8th Street Loft LLC. The developer was IVIZ, which does not list a telephone number or have a website. Across the street from the 2,500-square-foot buildings is boutique clothing retailer Oak, which sells hooded sweatshirts for $140.

No units have closed at the long-finished 205 North Eighth, which is called the Bedford although the condo is between Roebling Street and Driggs Avenue, a few blocks down from hip Bedford Avenue.

The 10 “loft-like” homes range in asking price from $625,000 to $319,000, according to StreetEasy, and have Brazilian teak floors and porcelain-tiled bathrooms. The 203 North eighth property had offered apartments in the $4,000-per-month range, although were pulled off the market two years ago. The Department of Buildings shows no certificate of occupancy was ever issued for the building.

IVIZ had trouble with other projects, Such As 195 Classon Avenue in Clinton Hill. The Classon condos became so-called nondos, or, condos that had to be rented out because of a lack of demand.

Last January, Occupy Wall Street protesters threw a party at the empty but ritzy Bedford, a symbol to them of the excesses of uber-gentrified Williamsburg. A fight that broke out ended with the arrest of four of the party-goers; six police officers who tried to control the crowd sustained minor injuries.


Related Articles

arrow_forward_ios
RedSky Principal Benjamin Bernstein and a section of the prooperties along N6th in Williamsburg. (RedSky)
RedSky hands over Williamsburg retail portfolio valued at $145M
RedSky hands over Williamsburg retail portfolio valued at $145M
Miki Naftali of Naftali Group and 470 Kent Avenue (Getty; Google Maps)
Naftali Group files plans for 400-unit towers in Williamsburg
Naftali Group files plans for 400-unit towers in Williamsburg
Lantern Real Estate co-founder Tal Bar-Or and a rendering of the project
Williamsburg building gets $41M bridge loan after Brooklyn Boulders bails
Williamsburg building gets $41M bridge loan after Brooklyn Boulders bails
25 Kent Avenue and Amazon CEO Jeff Bezos (25 Kent; Getty)
Amazon Music is coming to Brooklyn’s office market
Amazon Music is coming to Brooklyn’s office market
From left: 21 Montrose Avenue in Williamsburg, 1480 Amsterdam Avenue and 520 West 136 Street in West Harlem and 208-212 West 141st Street in North Harlem (Google Maps)
Week’s mid-market sales run gamut from $80 to $500 psf
Week’s mid-market sales run gamut from $80 to $500 psf
126 Hancock Street and 85 North 3rd Street (Google Maps, Corcoran)
Bed-Stuy townhouse tops Brooklyn luxury contracts
Bed-Stuy townhouse tops Brooklyn luxury contracts
111 Kent Avenue and Stanley Iezman (Credit: Google Maps)
American Realty Advisors eats $10.7M on Williamsburg sale
American Realty Advisors eats $10.7M on Williamsburg sale
470 Kent Avenue and Naftali Group’s Miki Naftali (Credit: Google Maps, Gonzalo Marroquin/Patrick McMullan via Getty Images)
Naftali closes on large Williamsburg development site for $100M
Naftali closes on large Williamsburg development site for $100M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...