NEW YORK CITY-The Steiner family in New York is planning to construct a rental apartment tower in downtown Brooklyn. The family is moving ahead with the 52-story tower that will include nearly 720 apartment units and 50,000 square feet of retail space.
The Steiners bought the site, located at the junction of Flatbush and Schermerhorn avenues, in November for $30 million. The proposed development will cost between $325 million and $350 million. The Steiners are preparing to start the project early next year. For the full story, go to Wall Street Journal .
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