Williamsburg Development Site Picked Up for $18M, New Owner Plans Rentals

NEW YORK—Kalmon Dolgin Affiliates Inc. (KDA) has arranged the sale of a 50,000-sq.-ft. development site at 88 Richardson Street in the Williamsburg section of Brooklyn for $18 million. Kalmon Dolgin Affiliates broker Robert Klein represented both the buyer, 88 Richardson L.L.C., and the seller, 391 Leonard Street L.L.C., in the transaction.

Comprised of three interconnecting properties, the development site occupies a full block on Leonard Street between Richardson Street and Meeker Avenue. The buyer plans to develop rental apartments on the site, which offers 160,000 buildable sq. ft.

Located opposite the Brooklyn Queens Expressway, 88 Richardson Street is one block from McCarren Park. Access is provided to the L and G subway lines as well as the B43 and B48 bus routes.

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