NEW YORK CITY-Stellar Management in collaboration with Largo Investments has purchased a hindered condominium project in Williamsburg for $24.6 million. Stellar Management will convert the seven-floor building measuring 73,000 square feet situated at 111 Kent Avenue into rental units.
Stellar Management will invest about $8 million to finish the construction of the almost completed building. The project will comprise 62 rental units and the company plans to market the units this summer with occupancy slated for fall.For the full story, go to Crain's New York Business.
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.