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BROOKLYN, NY-Marc Francis, founder and CEO of Great Neck, NY-based Delphine Real Estate Advisory Group Ltd., tells GlobeSt.com that Delphine is the exclusive listing agent for a 64,800-sf development site on the waterfront in Greenpoint, Brooklyn. Although Francis could not disclose to GlobeSt.com who the seller is at the time, he explains that they are selling because they are not developers, and that the property has been approved for a mixed-use development.

The site, which is currently listed at $28 million GlobeSt.com has learned, currently has a warehouse on the lot, Francis says. The site, directly across the East River from Manhattan’s East Village has been approved for a mixed-use development of 30,000 sf of commercial space and 157,000 sf of residential space. Under the Inclusionary Housing program, the residential square footage could be boosted to 178,200 sf.

Francis tells GlobeSt.com that what the sellers are using the site for now is what they have been using it for years. “The owners had started to think about selling the site as a project to show its potential, so they spoke to an architect.” The proposed project—known as Huron Towers at Greenpoint—is located at 161 W. St., at the corner of Huron Street here.

Proposed plans for the immediate area include a water taxi within 100 feet of the property, waterfront parks, retail shops, restaurants, and other new housing developments. The ‘G’ train–with service to Queens–and the ‘L’ train–with service to Manhattan–as well as three bus routes, are all within a few blocks.

Francis, who once headed the Long Island office of the Community PreservationCorp., points out that although several developments are online along the Williamsburg-Greenpoint corridor, there is little if any quality rental housing available. Rents are expected in the range of $3,800 for one-bedroom apartments and $4,500 for two-bedroom apartments. He adds that interested buyers have already called in from as far away as Israel.

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