Blesso Properties puts Williamsburg dev site on the market

Firm bought 1.1 acres of land in 2015 for $33M

Oct.October 31, 2017 04:55 PM

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

Related Articles

(Illustration by Daniel Castro Maia)

Why real estate is still tangled up with the mob

Paul Massey’s B6 Real Estate hit with layoffs

Paul Massey’s B6 Real Estate hit with layoffs

Judge Janet DiFiore and Judge Rowan Wilson (Credit: iStock, New York State Courts)

High court decision has tenants stewing, landlords oohing

US Steel’s sprawling South Works site is about the size of Downtown Chicago. At left, Common, who wants to partner with developers on a mixed-use entertainment district there, and Dan McCaffery, whose vision for a 13,000-home community fizzled out. (Credit: Common by Paras Griffin/Getty Images; McCaffery via McCaffery Interests; aerial by Cushman & Wakefield)

South Works, the 415-acre “magnificent property,” is Chicago’s biggest development opportunity

Sharif El-Gamal (Photo by Desiree Navarro/WireImage)

WATCH: Developer Sharif El-Gamal has Covid-19. But he’s one of the lucky ones

Knotel CEO Amol Sarva 

Another huge round of layoffs for Knotel

Miki Naftali, Steven Witkoff and Ryan Freedman

TRD Talks: How developers are contending with coronavirus

Governor Andrew Cuomo (Photo by Spencer Platt/Getty Images; iStock)

Cuomo’s foreclosure, mortgage moratorium has no teeth