The Real Deal New York

Brooklyn Heights co-op owners vote against Anbau deal

Developer's $130M bid could have led to 40-story resi tower
January 18, 2016 12:15PM

Anbau Enterprises’ $130 million bid for a massive Brooklyn Heights development site appears to be over after property shareholders voted against a sale.

Shareholders of the Whitman Owner Corp. co-op building at 75 Henry Street voted Thursday against entertaining offers for the development site, which consists of a row of one-story retail shops along Pineapple Walk in the neighborhood.

The vote, which came out to a tally of 191 members against versus 112 for, rules out a deal that could have seen each shareholder receive in excess of $120,000 if Anbau’s $130 million bid for the 387,000-square-foot property went through, according to Brooklyn Eagle.

While a ‘yes’ vote would have allowed the co-op to weigh bids from Anbau and other developers as well, the co-op is not likely to entertain further offers in the near future, the Eagle reported.

“Our co-op voted to keep the integrity of our neighborhood, and sensibility rules over greed,” Beverly Closs, a resident of 75 Henry Street resident, said.

Anbau’s bid would have allowed a proposed 40-story luxury residential tower with ground-floor retail to rise at the site, which runs from Henry Street to Cadman Plaza West.

Anbau, led by couple Stephen Glascock and Barbara van Beuren, upped its bid for the property from an initial opening offer of $75 million late last year. [Brooklyn Eagle]Rey Mashayekhi