CW Realty buying Williamsburg assemblage for $39M

Firm is planning a 145-unit rental building at the site

New York /
Oct.October 25, 2019 04:25 PM
CW Realty's Cheskie Weisz and the Williamsburg assemblage (Credit: CW Realty and Google Maps)

CW Realty’s Cheskie Weisz and the Williamsburg assemblage (Credit: CW Realty and Google Maps)

Cheskie Weisz’s CW Realty is purchasing a massive Williamsburg assemblage for about $39 million, according to sources familiar with the deal.

The firm is buying the full blockfront on Hope Street between Keap and Rodney Streets, along with space on Keap and Rodney Streets themselves, from multiple sellers including Heatherwood Luxury Rentals. The assemblage has 475 feet of street frontage overall, and CW Realty plans to build a 145-unit seven-story rental building on the site with amenities including a doorman and fitness center.

Thirty percent of the project’s units will be set aside as affordable, and the remaining will be market rate. CW Realty also hopes to purchase additional air rights for the project.

Marcus and Millichap’s Said Boukhalfa

Marcus and Millichap’s Said Boukhalfa

Marcus and Millichap’s Said Boukhalfa brokered the deal.

“I think both sides, the buyer and the seller, are happy with the transaction,” he said, “because they both really got what they wanted.”

Heatherwood did not respond to a request for comment, and CW Realty declined to comment.

CW Realty is based in Williamsburg and filed plans earlier this year for a 13-story mixed-use building in Bushwick with 71 residential units. It is also behind the 96-unit Williamsburg rental building at 187 Kent Street, which it landed a $78 million construction loan for last January.

Heatherwood had been planning to build a 104,000-square-foot project with 100 residential units on part of the assemblage at 134 Hope Street before selling. The company landed a $215 million refinancing from Morgan Stanley earlier this year for its 58-story Tower 28 building in Long Island City.


Related Articles

arrow_forward_ios
186 North 6th Street and 165 North 5th Street in Brooklyn (Avison Young)
Co-living firm’s ex-flagship asks $65M
Co-living firm’s ex-flagship asks $65M
159 Broadway in Brooklyn and Madison Realty Capital’s Josh Zegen (Getty, Madison Realty Capital, Stonehill & Taylor Architects)
Madison Realty’s pickup of Williamsburg hotel site tops midsize i-sales
Madison Realty’s pickup of Williamsburg hotel site tops midsize i-sales
Naftali Group's Mika Naftali, Len Blavatnik and 470 Kent Avenue (Naftali Group, Google Maps, Mark Neyman / Government Press Office/CC BY-SA 3.0/via Wikimedia Commons)
Naftali, Blavatnik land $385M for big Williamsburg resi project
Naftali, Blavatnik land $385M for big Williamsburg resi project
Madison Realty's Josh Zegen with plans for 159 Broadway (LinkedIn, Rosewood Realty Group, The Corbin Group)
Madison Realty to take control of Isaac Hager’s Williamsburg hotel project
Madison Realty to take control of Isaac Hager’s Williamsburg hotel project
667 Kent Avenue and 25 Hooper Street in Williamsburg (Google Maps, Getty)
Nap Industries’ Williamsburg warehouses sale tops mid-market deals
Nap Industries’ Williamsburg warehouses sale tops mid-market deals
From left: Hutton Capital's Ron Friedman, BridgeCity’s Allan Lebovits, Toby Moskovits, and Heritage Partners' Michael Lichtenstein along with 225-227 Grand Street in Brooklyn (Getty, Google Maps, Hutton Capital, BridgeCity, Heritage Partners)
Moskovits, Lichtenstein lose another Williamsburg property to bankruptcy
Moskovits, Lichtenstein lose another Williamsburg property to bankruptcy
The William Vale hotel in Williamsburg (The William Vale, Getty)
Judge slams door on Weiss’ comeback attempt for William Vale
Judge slams door on Weiss’ comeback attempt for William Vale
Rubenstein Partners' David Rubenstein and 25 Kent Avenue in Williamsburg (Getty Images, Twenty Five Kent, Rubenstein Partners)
Rubenstein rolls co-working company into 25 Kent
Rubenstein rolls co-working company into 25 Kent
arrow_forward_ios

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

Loading...