The site, which is currently listed at $28 million GlobeSt.com has learned, currently has a warehouse on the lot, Francis says. The site, directly across the East River from Manhattan's East Village has been approved for a mixed-use development of 30,000 sf of commercial space and 157,000 sf of residential space. Under the Inclusionary Housing program, the residential square footage could be boosted to 178,200 sf.
Francis tells GlobeSt.com that what the sellers are using the site for now is what they have been using it for years. "The owners had started to think about selling the site as a project to show its potential, so they spoke to an architect." The proposed project—known as Huron Towers at Greenpoint—is located at 161 W. St., at the corner of Huron Street here.
Proposed plans for the immediate area include a water taxi within 100 feet of the property, waterfront parks, retail shops, restaurants, and other new housing developments. The 'G' train--with service to Queens--and the 'L' train--with service to Manhattan--as well as three bus routes, are all within a few blocks.
Francis, who once headed the Long Island office of the Community PreservationCorp., points out that although several developments are online along the Williamsburg-Greenpoint corridor, there is little if any quality rental housing available. Rents are expected in the range of $3,800 for one-bedroom apartments and $4,500 for two-bedroom apartments. He adds that interested buyers have already called in from as far away as Israel.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
