Vacant Development Site in Williamsburg Changes Hands for $3.4 Million

March 30, 2012 Brooklyn Eagle Staff
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WILLIAMSBURG — Kalmon Dolgin Affiliates Inc. (KDA) reports the sale of a potential development site in Williamsburg.

Neil Dolgin, KDA co-president, said the 50-foot-by-100-foot vacant lot, at 171 North 10th St., sold for $3.4 million to a developer.

Vincent Lopez and Jacques Wadler, both of KDA, represented the seller, Bedford Parkview Partners, as well as the buyer, now identified as 171 North 10th Partners, in the transaction.

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According to Lopez, Bedford Parkview Partners had planned to develop the site, even demolishing a warehouse that stood on the property, and had received approvals to construct a residential building of up to 18,000 square feet.

Because the property already had its footing in place, Bedford Parkview Partners was also able to secure a 15-year tax abatement for the proposed development.  

The buyer was attracted by the pre-approved plans, the tax abatement and the potential, according to Lopez.

“The combined package holds great value and was a major selling point for the buyer,” he said. “This is one of my most creative deals, and it gave me great pleasure to facilitate a beneficial agreement between both the buyer and seller.”


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