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SL Green buys first residential building in Brooklyn

A look at 250 Bedford Avenue. Photo via Google Images.

Brooklyn Daily Eagle

SL Green Realty Corp., owner of the iconic Downtown Brooklyn commercial building at 16 Court St., reports it has signed an agreement to acquire a newly completed but vacant residential building in Williamsburg.

It is the firm’s first foray into residential ownership in the borough, according to Brett Herschenfeld, senior vice president at SL Green, in a published statement.

He also said the transaction is expected to close in the first quarter of 2013.

The residential building sits atop a commercial condominium which SL Green purchased in 2010 that already includes an HSBC bank branch and a Duane Reade drugstore. Below those is a 142-car parking garage.

The building contains 72 newly constructed apartments — comprised of studios, and one- and two-bedroom units — plus 12 townhouses.

Amenities include an outdoor courtyard with cabanas, a recreational and entertainment lounge, and a gym. The townhouses are all three-bed-room with both a garden and a rooftop terrace.

The building was developed under a program that provides tax abatements, according to Herschenfeld.

Although SL Green will not reveal the project’s address, several realtors in the know told the Eagle it is probably 250 Bedford Ave., which PropertyShark.com shows as a five-story building owned by the Triton Realty Group.

December 6, 2012 - 10:41am


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