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Former Linen Company Plant in Brooklyn Sells for $27M

NEW YORK CITY-The nearly 140,000-square-foot facility will likely be turned into both residential and commercial space.

By Rayna Katz | Updated on April 09, 2013

NEW YORK CITY-The former General Linen Supply & Laundry plant at 835 Myrtle Ave. has been sold to an investor group, led by Alliance Private Capital Group, for $27 million, according to the New York Post on Tuesday.

Home to Cascade Linen Supply from 1898 until 2010, the Myrtle Avenue property comprises nine different buildings totaling 137,386 square feet; the space has been vacant since Cascade closed its doors. The site could host up to 251,505 square feet of residential development plus 101,000 square feet of commercial space as part of the city’s new Bedford Stuyvesant North rezoning district, the paper states. The sale was done against the backdrop of rising prices in Bed-Stuy as other parts of Brooklyn become too expensive.

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