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Old April 10th, 2013, 02:05 AM   #1
desertpunk
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NEW YORK | 300 Livingston St. | 100m+ | Pro

A huge tower development site in downtown Brooklyn has just changed hands. The resulting tower(s) could be the tallest in Brooklyn:

Crain's

Quote:
Developer pays $75M for downtown Brooklyn site

The property could accommodate a residential tower of as much as 600,000 square feet, in an area that has seen a huge boom in high-rise residential construction in the last few years.

April 9, 2013

Developer TF Cornerstone has purchased a large parking garage and retail property in downtown Brooklyn from Thor Equities, paying roughly $75 million.

The site, at 300 Livingston Street, can accommodate up to 600,000 square feet of residential development in a neighborhood that has experienced a huge boom in high-rise residential construction in the last few years.

The property currently has a 230,000-square-foot parking garage with ground floor retail space.

The deal is one of several development parcels to trade hands in recent months, as builders have become eager to get in the ground again with residential projects to meet rising demand and prices.

TF Cornerstone has been an active residential developer and is in the process of constructing a large complex of rental buildings in Hunters Point, Queens.

[...]
A large parking garage currently occupies the site.

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