The Real Deal New York

Waterfront Williamsburg development site asks $17.5M

Previous reports had suggested that a 10,000-sf private residence was coming to the site
February 15, 2015 11:00AM

The holdout owners of three buildings at Kent Avenue and North Seventh Street have finally listed the properties for $17.5 million.

“This is one of the last great pieces of real estate ripe for development,” Max Koshkerman of GFI Realty, who has the exclusive listing, told the New York Daily News. “This gentleman has owned these properties for close to 30 years. Now, he’s gotten to the point where he’s ready to retire and he doesn’t want to take on the project.”

The listing of the buildings, located at 119-123 Kent Avenue, calls into question previously reported plans for a seven-story building. Developer Anthony Fernicola was supposedly behind plans to build 3,000 square feet of commercial space and a massive 9,771-square-foot, single-family residence, featuring an underground garage and an infinity pool, at the site.

According to the Daily News, a new owner could develop a 20,000-square-foot building, or sell the 5,000 feet of air rights included in the listing to another Williasmburg developer. [NYDN] Christopher Cameron