New York

citistorage fire williamsburg

Owner of Williamsburg’s Burnt Out CitiStorage Warehouse Thinks It Could Sell for $500 Million

The site of a recent large-scale fire on Williamsburg’s northern waterfront — the burned-down warehouse located at 5 North 11th Street — may be on the path for redevelopment, or so the property’s owner hopes. Crain’s Business reports the property — likely valued at $500 million — boasts roughly 600,000 square feet of commercial air rights, and could be rezoned for residential if approved by city council, however earlier prospects to designate the land as park space may foil any redevelopment prospects.

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21-09 Astoria Boulevard

Mixed-Use Development Planned for 21-09 Astoria Boulevard

The Real Deal has learned that two developers have acquired the the three-story property assemblage spanning 21-03 – 21-09 Astoria Boulevard, on the western side of Astoria, for $7.5 million. The site boasts 49,000 square feet of building potential, and the new owners plan to develop at least a seven-story, 60-condo-unit mixed-use building with retail space.

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