Redsky Capital is planning to conduct renovations on the two-story, 27-unit mixed-use building at 159 North 3rd Street and 158-170 North 4th Street, in Williamsburg, located four blocks from the Bedford Avenue Station on the L train. The property owner recently secured a $19 million loan to refinance debt and to fund the project, according to Commercial Observer. Ground-floor retail space totals 48,860 square feet, while 27 rental apartments currently spread across 25,510 square feet of residential space on the second floor. Roughly 21,000 square feet of retail is vacant, although the entire block-thru building is expected to receive renovations and upgrades. Current retailers in the building include a Foodtown supermarket, and the restaurants Umani Burger, Sweetgreen, and by CHLOE.
RedSky Capital recently acquired the three-story commercial building at 585 Fulton Street, in Downtown Brooklyn, for $13 million, and now owns the entire triangular block spanning 565-591 Fulton Street and 398 Flatbush Avenue Extension (excepting the four-story building at 571 Fulton Street). The assemblage currently has 280,000 square feet of development rights, but if No. 571 is acquired, that figure would increase to 330,000 square feet, according to The Real Deal.
Commercial Observer reports RedSky Capital and JZ Capital Partners are planning to develop a 40-story mixed-use tower at the roughly 122,200 square-foot property at 18 India Street, on Greenpoint’s waterfront. The site boasts 652,000 square…