NEW YORK CITY-Two Trees Management has paid $185 million for the Domino sugar factory site situated along the Williamsburg waterfront. CPC Resources was the seller. The Katan Group and CPC bought the site in 2004 for $55 million and received approval to develop a $2-billion, 2,200-apartment project there. The project stalled when the market weakened in 2008.
Two Trees inked a letter of intent to purchase the stalled 11.2-acre site nearly four months ago. For the full story, go to Crain's New York Business .
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