When the city rezoned Williamsburg in 2004, it hoped to encourage truly mixed-use buildings that knitted together apartments, office space, and light industrial businesses. Few developers have taken advantage of the commercial part of the zoning, instead choosing to squeeze as many apartments as possible onto a lot. Chelsea-based developer and architecture firm Flank decided to take a different path for their project at 60 South 2nd Street, where three quarters of the building will be devoted to office space.
60 South 2nd Street
Chelsea-based development and design firm Flank has closed on the purchase of the development assemblage at 41-53 South 3rd Street and 60 South 2nd Street, in Williamsburg, located two blocks in from the East River, for $36.2 million. The assemblage consists of a mix of single-story commercial-retail properties and vacant lots, according to The Real Deal. The plot could accommodate nearly 80,000 square feet of mixed-use development if the existing buildings are demolished. The developer is currently considering building a project with residential units, although plans won’t move forward until the existing tenants finish their respective leases, which expire between 2018 and 2023.