Normandy, partners plan 3-acre Bushwick development

Firms teamed up to acquire 160,000 sf property for nearly $27M

333 Johnson Avenue in Bushwick
333 Johnson Avenue in Bushwick

UPDATED, 4:25 p.m., May 11: Normandy Real Estate Partners, Royalton Capital and Sciame Development have teamed up to purchase a 160,000-square-foot industrial property in Bushwick with plans for a mixed-use development.

The three-acre site at 333 Johnson Avenue, previously the site of a slaughterhouse and later a printing press, will be Bushwick’s first mixed-use office, retail and restaurant complex, according to Normandy principal Paul Teti.

The joint venture purchased the site, which features eight interconnected buildings, for $26.75 million, according to the Wall Street Journal. Brooklyn brokerage TerraCRG represented the buyers. Sydney Blumstein, Justine Lee Mills and the Blumstein Team of Corcoran Group represented the seller, Richard Bart Realty.

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Normandy and Westbrook Partners have worked to shed a total of 1,700 apartments as part of a plan to focus on office property deals. [WSJ]Rey Mashayekhi