On the southern end of Williamsburg’s waterfront, a three-story commercial property at 484 Kent Avenue is about to hit the market as a development site, boasting 500,000 square feet of residential air rights. In 2011, the property was granted a zoning change to allow for three towers totaling 800 residential units, 30% of which would be affordable. Per Crain’s Business, HFZ Capital Group is interested in the property; the site is suspected to be valued north of $250 million.
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