Waterfront Williamsburg development site asks $17.5M

Previous reports had suggested that a 10,000-sf private residence was coming to the site

New York /
Feb.February 15, 2015 11:00 AM

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


Related Articles

arrow_forward_ios
47 West 175th Street in Morris Heights with Camber Property Group’s Rick Gropper and Vitus Group’s Stephen Whyte
Camber nabs Bronx apartment buildings to top midsize i-sales
Camber nabs Bronx apartment buildings to top midsize i-sales
From left: MetLife's Michel A. Khalaf and Clarion's David Gilbert along with with 44 Berry Street and 139 North 10th Street in Williamsburg (Getty, LoopNet, Clarion, MetLife)
MetLife pays $68M cash for Williamsburg apartments
MetLife pays $68M cash for Williamsburg apartments
DW Partners David Warren and 427 Marcy Avenue (Getty, DW Partners, Google Maps)
Bizarre bankruptcy stops Brooklyn condo project foreclosure
Bizarre bankruptcy stops Brooklyn condo project foreclosure
From left: 346 Kent Avenue, 30-77 Vernon Boulevard, and 1 Java Street (Getty, SHoP Architects, James Corner Field Operations, Lendlease, NYC Department of Housing Preservation and Development)
Multifamily leads big month for outer-borough loans
Multifamily leads big month for outer-borough loans
From left: Toby Moskovits and Michael Lichtenstein with the Williamsburg Hotel
Former accountant for troubled Williamsburg Hotel held in contempt
Former accountant for troubled Williamsburg Hotel held in contempt
Toby Moskovits and Michael Lichtenstein with 564 Street John's Place (Moskovits via Sasha Maslov, Heritage Equity Partners, Google Maps, Getty)
Toby Moskovits, Michael Lichtenstein settle lawsuit with Brooklyn investor
Toby Moskovits, Michael Lichtenstein settle lawsuit with Brooklyn investor
From left: Quadrum Development's Oleg Pavlov, Toby Moskovits, and Heritage Equity Partners' Michael Lichtenstein with the  96 Wythe Ave (Williamsburg Hotel, Getty)
UK firm to buy Moskovits, Lichtenstein’s Williamsburg Hotel for $96M
UK firm to buy Moskovits, Lichtenstein’s Williamsburg Hotel for $96M
Lindenwood Associates' Nat Wasserstein with 159 Broadway (Lindenwood Associates, Stonehill &l Taylor Architects, Getty)
Hager accused of fraud at Williamsburg hotel project
Hager accused of fraud at Williamsburg hotel project
arrow_forward_ios

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

Loading...