Williamsburg waterfront site hits market priced at $210 million
Eastern Consolidated Tapped to Market 462-490 Kent Avenue
One of the last remaining large-scale residential development sites located along the East River waterfront in Williamsburg at 462-490 Kent Avenue is on the market for sale through Eastern Consolidated priced at $210 million.
Eastern’s Director Gabriel Saffioti, Associate Director Nicole Rabinowitsch and Director, Financial Services Gary Meese are marketing the 3.75-acre site that can accommodate approximately 816,000-square-feet, of mixed-used, mixed-income development for which preliminary plans and approvals have been obtained through a Uniform Land Use Review Procedure (ULURP). The seller is Waterfront Realty II LLC, a local family owner/operator.
The ULURP currently in place calls for 754 apartments constructed over five separate buildings, three of which are high-rise towers with low-rise bases; some 226 of these units will be designated for affordable housing. Over 29,000 square feet of street-level retail is designated within the ULURP approval along with 496 garage parking spaces. The project also creates a significant amount of waterfront park land with public access, as well as significant private garden green spaces for residents.