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Clipper Equity gains full ownership of 77 Commercial Street

The Chetrit Group sold their stake in the three building project for an undisclosed sum.

Rendering of 77 Commercial Street (Credit: CetraRuddy)

David Bistricer’s Clipper Equity has bought out its partner, the Chetrit Group at 77 Commercial Street, according to TRD. Upon completion, the Greenpoint development project will span a total of 647,809 square feet across three buildings, and will include 720 apartments (200 will be affordable).

Worth Noting: Chetrit continues an interesting trend in the past year… The developer sold his stake in 9 Dekalb Avenue to JDS Development, and also parted with a Mott Haven site it owned with Somerset Partners to Brookfield

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