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Williamsburg MXD Goes For $29M

NEW YORK CITY-The property was reconfigured from condos into rental units by the owners/developers, who have other joint projects in the works.

By Rayna Katz | Updated on July 11, 2013

NEW YORK CITY-In their first of several upcoming collaborations, two developers announced Thursday they have sold a mixed-use property they created, in the Williamsburg section of Brooklyn, for $28.75 million to an undisclosed purchaser. In a joint venture the two firms, Silverstone Property Group and Adam America Real Estate Group, developed 65-69 North 6^th St. after purchasing the stalled development site from its prior owner. It is comprised of 28 rental apartments and 4,000 square feet of ground-floor retail space, and offers 14 off-street parking spaces.

Silverstone and Adam America together are developing a new 170-unit rental property on North 7^th/North 8^th Streets in Williamsburg and a 70-unit condominium building on Water Street in DUMBO.

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