The Real Deal New York

Blesso Properties puts Williamsburg dev site on the market

Firm bought 1.1 acres of land in 2015 for $33M
October 31, 2017 04:55PM

The development site in between Broadway, Lorimer Street and Boerum Street in Brooklyn (Credit: Google Maps)

Blesso Properties’ 1.1-acre development site in Williamsburg is up for grabs.

The three lots, bordered by Broadway, Boerum Street and Lorimer Street, offer a combined 308,000 buildable square feet, according to Real Estate Alert. A former Lincoln Savings Bank building is currently on one of the lots and could either be torn down or used as part of a new project.

Real Estate Alert estimates that the site could sell for up to $77 million.

Cushman & Wakefield is marketing the land for Blesso, which bought the site for $32.9 million in 2015.

The company had filed plans to construct a 280,000-square-foot project with 226 residential units, a 2,100-square-foot community facility and 126,000 square feet of office space. [REA] – Eddie Small