Landlord Seeks $500M for Williamsburg Waterfront Site
Remember that seven-alarm fire at a warehouse on the Williamsburg Waterfront in late January? Well, the smoke’s gone, and developers are eyeing the site. CitiStorage owner Norman Brodsky’s business and home were destroyed in the blaze, but he thinks he can get $500M for the site, which he paid $5M for in 1990. An anonymous “major landlord” in the neighborhood tells Crain’s it’s one of the best development sites in the city and “definitely the best in Brooklyn,” but that right now there’s too much uncertainty over the site to shell out a sum deep into the nine-figures. The site would complete a plan developed during the Bloomberg Administration to create a 28-acre park. The owner wants to sell under an arrangement that would hand over half the land to finish the park, and half to a developer, who could build up to 600k SF on the site under current zoning. [Crain's]
