Got milk? Brookland to build 36-unit condo in East Williamsburg

Developer in contract for 28,000-square-foot property at former home of condensed milk factory

TRD New York /
Feb.February 25, 2014 12:14 PM

Talk about a sweet deal. An East Williamsburg loft building that was once a condensed milk factory will be converted into a 36-unit condominium building , developer Boaz Gilad of Brookland Capital told The Real Deal. Brookland is in contract for the 28,000-square-foot property at 850 Metropolitan Avenue, for which it will pay just shy of $10 million.

“It’s got a great industrial feel,” Gilad said of the building, which is currently home to knitwear manufacturer Rags Knitwear and is located two blocks away from the Graham Avenue L train station. There were no brokers on the deal, Gilad added.

The owner of Rags Knitwear is listed as Paul Gross, according to Yellow Pages. Gross could not be reached for comment by press time.

Brookland, founded by Gilad and his partner Assaf Fitoussi, is active throughout Brooklyn, but primarily in Crown Heights, Bedford-Stuyvesant and Bushwick. The firm is currently building a seven-story apartment complex on the site of the former Holy Tabernacle Church of Deliverance at 1255 Bushwick Avenue, and is also building a 27-unit residential building at 991 Eastern Parkway in Crown Heights. Brookland recently acquired an eight-story, 41-unit residential building at 689-691 Marcy Avenue in Bed-Stuy.


Related Articles

arrow_forward_ios
2018 Avenue U and 252 Newport Street in Brooklyn (Credit: Google Maps)

Here’s what the week’s $10M-$30M investment sales market looked like

Here’s what the week’s $10M-$30M investment sales market looked like
Clockwise from top left: A rendering of 88-92 Linden Boulevard in Flatbush, 554 4th Avenue in Gowanus, 850 Metropolitan Avenue in East Williamsburg, and 447-449 Decatur Street in Stuyvesant Heights (Credit: Brookland Capital and Google Maps)

Brookland Capital was never run correctly or efficiently, new
leader says

Brookland Capital was never run correctly or efficiently, new
leader says
Boaz Gilad (Credit: iStock)

His development empire in tatters, Boaz Gilad finds a new job

His development empire in tatters, Boaz Gilad finds a new job
850 Metropolitan Avenue and Brookland CEO Boaz Gilad (Credit: Google Maps)

Brookland Capital loses control of another Brooklyn development

Brookland Capital loses control of another Brooklyn development
257 Washington Avenue and Boaz Gilad (Credit: Google Maps)

Financially strapped Brookland Capital sheds another Brooklyn development site

Financially strapped Brookland Capital sheds another Brooklyn development site
Brookland hit with eviction notice at its office, suits over unpaid construction work

Brookland hit with eviction notice at its office, suits over unpaid construction work

Brookland hit with eviction notice at its office, suits over unpaid construction work
554 4th Avenue in Brooklyn and Brookland Capital CEO Boaz Gilad (Credit: Google Maps)

Amid financial woes, Brookland Capital is selling another Brooklyn property

Amid financial woes, Brookland Capital is selling another Brooklyn property
Icon Realty Capital will restructure a troubled portfolio of Brookland properties

Icon Realty Capital will restructure a troubled portfolio of Brookland properties

Icon Realty Capital will restructure a troubled portfolio of Brookland properties
arrow_forward_ios

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

Loading...