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Rentals, offices planned at mall site

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Downtown Brooklyn’s Albee Square Mall, which Thor Equities is selling to a group of investors for around $125 million, will be razed and developed to include a high-rise tower. The team of new owners, which includes MacFarlane Partners of San Francisco, plans to expand the property’s retail space from 150,000 square feet to almost half a million square feet; construct 125,000 square feet of Class A office space; and build 1,000 rental apartments, a fifth of which would be reserved for moderate-income tenants. more [NYT]

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