Dermot Buys on the Southside

The Dermot Company, which most famously is the developer of the Williamsburgh Savings Bank condo conversion, has been buying up rental properties throughout Brooklyn. Most of their purchases have been in the downtown and Fort Greene areas, but they have ventured up north on occasion. Today, the Eagle is reporting that Dermot has bought the building at 326 South 1st Street from TreeTop Development. The Triangulum, as it is (most unfortunately) called, was mostly renovated into high end rentals by TreeTop. The building, which sits across the street from the Getty Station on Borinquen Place/Keap Street, has 30 units plus a vacant ground-floor retail. According to the Eagle, Dermot paid just shy of $8 million for the property.