LIVWRK is now partner on Cornell’s 200 Kent

Asher Abehsera’s firm is now lead developer of Trader Joe’s-anchored Williamsburg project

TRD New York /
Dec.December 05, 2017 03:00 PM

Asher Abehsera and a rendering of 200-206 Kent Avenue in Williamsburg (Credit: RKF via CityRealty)

Asher Abehsera’s LIVWRK is now a partner on Cornell Realty Management’s office-and-retail project on the Williamsburg waterfront and will be taking the lead on developing it, sources told The Real Deal.

The developer recently joined the partnership in the roughly 110,000-square-foot project at 200 Kent Avenue, which will be anchored by a Trader Joe’s supermarket.

The deal brings the project’s total market capitalization to $70 million, sources said. The size of LIVWRK’s investment was not immediately clear.

Cornell Realty, led by Isaac Hager, acquired the vacant lot last year for $33 million and then signed Trader Joe’s to about 18,000 square feet.  In the past month, the firm locked in a $64 million construction loan from Madison Realty Capital and broke ground on the site.

LIVWRK, a frequent partner of Kushner Companies on Brooklyn developments, will also head up the building’s design and the leasing of the available retail and office and retail space, sources said. The six-story property is slated to have 35,000 square feet of offices, 35,000 square feet of retail and 40,000 square feet of garage parking. The project is expected to be complete by the first quarter of 2019.

A representative for LIVWRK declined to comment, and Cornell Realty could not be reached.

Abehsera and Hager have done one deal together in the past, though not as partners. Abehsera bought a Crown Heights development site at 109-111 Montgomery Street for $24.5 million from Hager in 2015.


Related Articles

arrow_forward_ios
28 Liberty Street (Wikipedia)

Manhattan’s office leasing sees busiest month since January

Manhattan’s office leasing sees busiest month since January
Maison Kayser (Photo via Tools of Men via Flickr)

Maison Kayser may bid New York adieu

Maison Kayser may bid New York adieu
Vishaan Chakrabarti of Practice for Architecture and Urbanism and Hiten Samtani of The Real Deal (Getty)

Vishaan Chakrabarti on a Manhattan real estate market without private cars

Vishaan Chakrabarti on a Manhattan real estate market without private cars
Newmark’s Brian Waterman with 7 Hanover Square (Google Maps, Twitter)

Newmark nabs REBNY prize for deal with NYC Health + Hospitals

Newmark nabs REBNY prize for deal with NYC Health + Hospitals
Vishaan Chakrabarti of Practice for Architecture and Urbanism and Hiten Samtani of The Real Deal (Getty)

The REInterview: What if Manhattan had four Central Parks’ worth of land to play with?

The REInterview: What if Manhattan had four Central Parks’ worth of land to play with?
The legislation from a City Council member introduced a bill to temporarily repeal the commercial rent tax for businesses during the Covid-19 state of emergency. (Getty, iStock)

Commercial rent tax cut introduced in City Council

Commercial rent tax cut introduced in City Council
Michael Rudder, James Nelson, 141 Wooster Street and 633 Third Avenue (Google Maps)

The Outlook: Industry experts break down Manhattan’s office condo market

The Outlook: Industry experts break down Manhattan’s office condo market
Peter Nicoletti and Colliers' David Amsterdam

Colliers taps JLL’s Peter Nicoletti to lead capital markets

Colliers taps JLL’s Peter Nicoletti to lead capital markets
arrow_forward_ios

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

Loading...