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Acquisitions

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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