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Acquisitions

Joel Jacobowitz buys 1 Wythe Avenue

Seeking permit to build 80,378 SF

Development site at 1 Wythe Avenue (Credit: Marcus & Millichap)

Joel Jacobowitz has acquired a development site at 1 Wythe Avenue from Patrick Turturro for $15.3 million. The Greenpoint industrial site (zoned M1-2) is located between North 15th Street and Wythe Avenue.

What comes next: Jacobowitz plans to apply for a special permit to develop an 80,378 square-foot retail and office project.

Precedent for permit: Heritage Equities and Rubenstein Partners gained approval at 25 Kent Avenue, and Simon Baron Development followed suit at 12 Franklin Street. The permit requires building an industrial component as part of the project.

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