NEW YORK CITY-Conversion of stalled condominiums has been restarted in Brooklyn. Cayuga Capital Management is planning to restart Steelworks Lofts, a luxury condo conversion having 88 units in Williamsburg.
Cayuga has plans to change the former factory of Lewis Steel Products into rental building. In the same way, Magic Johnson's Canyon-Johnson Urban Fund is also reviving 20 Henry, a former Peaks Mason Mint factory situated in Brooklyn Heights, into a 39-unit property. For the full story, go to Crain's New York Business.
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