Clinton Hill condo pulled from the market, rumored to be going rental

The developers of Clinton Hill’s 49-unit, Karl Fischer-designed condominium tower at 163 Washington Avenue are rumored to have sold off the building to new investors who now plan to turn it into a rental. What does that mean for the buyers who’ve already signed contracts for around 35 to 40 percent of the would-be condos there? According to a Brownstoner tipster who claims to be one of them, a sales representative for the building has e-mailed all buyers to say their deposits would be returned and that 163 Washington Street would be “permanently taken off the market.” The 16-story building by the GLC Group hit the market this past November after a bout of controversy from community members who believed it was too tall for the neighborhood. Prices had ranged from $250,000 to $767,000, and the Real Estate Group NY was handling the marketing. A receptionist at TREGNY confirmed to The Real Deal that the building has been pulled from the market, but CEO Andrew Barrocas wasn’t immediately available to comment further. [Brownstoner]