NEW YORK CITY-Greystone reports it has acquired two development properties in Brooklyn valued at more than $50 million.
The New York City developer acquired 137-43 North 10th Street in Williamsburg between Berry Street and Bedford Avenue. The building is a five-story, 30,000 square foot loft conversion. Greystone plans to convert the building into a 36-unit high-end multifamily property. The firm also purchased a vacant development site at 47-51 Bridge St. in Dumbo that it plans to develop into a 27-unit ground-up, multifamily rental project. Company officials say that both acquisitions were acquired within the last 60-days and were closed by the company's in-house property development team, overseen by Douglas Benach.
“We believe in the incredible growth occurring throughout Brooklyn as it becomes one of the premier housing destinations in the region,” states Jeffrey Simpson, director in Greystone's Property Development business. “The buildings will be developed to provide great New York City quality living, while maintaining and celebrating Brooklyn's unique and vibrant past.”
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
