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Acquisitions

Hampshire buys development site at 500 Kent Avenue

Another Williamsburg waterfront site sells

500 Kent Avenue (Credit: CityRealty / Google Maps)

Hampshire Properties has acquired a development site at 500 Kent Avenue in Williamsburg from Con Edison for $50 million, according to TRD. The waterfront lot spans 115,000 square feet, and offers 230,000 buildable square feet as of right.

Be Smart: Just last month, the Naftali Group entered into contract to acquire a nearby site at 470 Kent Avenue from Abraham Rosenberg for around $182 million. The seller secured a zoning variance on the 94,500 SF lot in 2010, which allowed for a 500,000 SF residential project on the Williamsburg waterfront.

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