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Acquisitions

Largo buys 215 North 10th Street

Luxury condos are expected

Rendering of 215 North 10th Street (Credit: Morris Adjmi Architects)

Nick Werner’s Largo Investments has acquired 215 North 10th Street in Williamsburg from Abraham Weiss for $25 million. The condo development site allows for the construction of around 48,600 SF.

Worth Noting: When the project is completed, the L train will be running again, which will add further value to a solid location. With a land basis of $514 a foot, Largo will build condos.

Takeaway: With a project costs in excess of $1000 a foot, the margin for error is slim.

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