Tag: development
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Domino Sells
DUMBO-based Two Trees has closed their deal for the Domino sugar refinery site, for what appears to be $185 million ($20 million more than the price that Two Trees supposedly went into the negotiations at). According to the Times, the price increase came after co-owner Isaac Katan made an offer with developers Chetrit Group and…
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City Reneges on Promised Brooklyn Waterfront Parks
Source: Wall Street Journal I’d been meaning to write a wrap-up post on last week’s City Council hearing on the status of the 2005 rezoning of the Williamsburg & Greenpoint waterfront, including the many articles that led up to the hearing. Happily, the Working Harbor Committee has done that for me – written a concise,…
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Related, Silverstein Also Looked at Domino
The Commercial Observer has more information on the Two Trees acquisition of the Domino site, including the fact that two other major developers – The Related Companies and Silverstein Properties – were interested in the site. The Observer seems to agree with everyone else (myself included) that Two Trees is a good fit for the…
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Community Anxious Over Possible Domino Sale
Crain’s has some follow up community reaction to the news that Two Trees might be buying the Domino site. Apparently the community, or at least Isaac Abraham, is “anxious” about the sale: Any developer or investor who wants to purchase Domino without committing itself to the 660 affordable units, should really think twice,” said Isaac…
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Two Trees to Buy Domino?
The Daily News and Crain’s are reporting that CPCR has reached a deal with Two Trees to sell the Domino project for $160 million. CPCR and its partner Isaac Katan bought the Domino site in 2006 for $55 million. Since then, they have rezoned the property for residential use and gotten stuck in a morass…
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LPC Warehouse RFP Issued
http://www.brownstoner.com/blog/2012/05/city-seeking-developer-to-turn-old-lpc-warehouse-in-williamsburg-into-affordable-housing/#more-95640
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Wythe Hotel
80 Wythe Theobald Englehardt (1900) Morris Adjmi Architects (2012) Photo: brooklyn11211 Matt Chaban in the Observer: This was, is and will be the greatest thing Williamsburg has ever seen. It is the pinnacle, the acme, the end. The story of gentrification, at least in this oft-buzzed about corner of Brooklyn, is over — checked at…
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Katan Loses Domino Suit
The Observer reports that Isaac Katan failed to secure an injunction against his partner in the $1.5 billion Domino development from selling a majority stake in the project. The decision appeared to clear the way for the Community Preservation Corporation, a joint owner of the site, to proceed with a deal to hand the majority…
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AG Sues Developer of 57 Maspeth
http://therealdeal.com/blog/2012/05/02/ag-sues-developer-over-alleged-defects-at-williamsburg-condo/