Report: Alloy Development buys 2 DUMBO buildings for $50 Million

July 18, 2018 By Raanan Geberer Brooklyn Daily Eagle
50 Jay St. Image © 2018 Google Maps photo
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Brooklyn-based Alloy Development is reportedly purchasing two interconnected buildings in DUMBO for more than $50 million.

The developer is in contract to buy 42 Jay St. and 50 Jay St. from Phoenix House, an organization that helps people overcome substance abuse, according to The Real Deal. The building at 50 Jay St. is five stories high, while the one at 42 Jay St. is seven stories high, The Real Deal reported. Phoenix House put the two buildings on the market in January.

Neither Alloy – the developer of the controversial 80 Flatbush project – nor Phoenix House commented on the project, The Real Deal said.

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