- South Williamsburg Creeps North [✜]
An investment group led by Waterbridge Capital’s Joel Schreiber has closed on the purchase of nearly an entire South Williamsburg block, with plans for high-end retail development, the Wall Street Journal reported… Waterbridge is looking to bring “high-end retail,” tenants to the block, a source familiar with the transaction told the Journal. Doing so would continue the transformation of South Williamsburg into a trendy retail destination, with stores such as Whole Foods making their way to the neighborhood.
$30 million for a South Williamsburg block?!? And a Whole Foods?!!?
Oh, by "South Williamsburg" they really mean "Bedford and Driggs avenues and North Third and North Fourth streets". (And Waterbridge already acquired half this block last year - remember J. Crew?