CW Realty Management has entered into contract to acquire, for $45 million, the development assemblage at 187-201 Kent Avenue and 48-50 North 3rd Street, located three blocks in from the East River in northern Williamsburg. The plan is for a 140,000-square-foot mixed-use building with retail space and rental apartments, The Real Deal reported. Retail will be located on the ground and cellar levels, and there will also be a parking garage. The number of units is unknown at this time. The 23,150-square-foot assemblage is currently occupied by one- and two-story warehouses, one of which is currently used as event space. Demolition permits haven’t been filed.
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