Kalmon Dolgin Affiliates Inc. arranged the $14-million sale of the three-building industrial complex located at 53–65 Hope St. The buyer, Hope Street Realty, LLC, is a private investor which intends to convert the 120,000-sf, six-story property into residential condominiums. Dolgin represented both sides in the negotiations.

Neil Dolgin, a principal member of Kalmon Dolgin, says the site is ripe for conversion. "The building's proximity to Manhattan via train--just five minutes--the views of the East River and the neighborhood's small town shopping environment will transform this once proud light manufacturing building into an even prouder loft living property."

Kalmon Dolgin recalls the family's acquisition in the mid-70s and notes, "To have ever imagined that the Williamsburg/Greenpoint areas of Brooklyn would evolve into one of the hottest residential markets in the city would have elevated you to the status of prophet." He credits to transformation of the neighborhood to a number of factors including the demise of US-based small manufacturing companies in the metropolitan area, soaring Manhattan prices and low interest rates. "The realization that we are just five minutes by subway or car from Midtown, has transformed this industrial center to a wonderful mix of residential buildings."