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GlobeSt.com EXCLUSIVE: Family Sells Industrial Site After 30 Years

WILLIAMSBURG, NY-The sale will facilitate the construction of residential condominiums on the site. It had been part of a family-owned portfolio for 30 years.

By Barbara Jarvie | Updated on February 27, 2005

WILLIAMSBURG, NY-Richfield Properties LLC, which is comprised of members of the Dolgin Family, sold an industrial site here. It had acquired the property in 1975. The concrete and steel buildings, now situated in the Northside Redevelopment Zone, had originally been filled with many types of small manufacturers, mostly apparel firms.

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.

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