Photo by Brownstoner
July 26, 2005, NY Post — Reflecting the astonishing boom in land values, a prime development site in North Williamsburg — the former Old Dutch Mustard Company plant and several adjacent properties — are up for sale. According to Eastern Consolidated’s Alan P. Miller, who is fielding offers, the 47,000 square-foot parcel can support a residential project of 127,000 square feet under new zoning — like a 7-story condo with stores. The factory, still emblazoned with the “Old Dutch Mustard” sign, has been owned by the family of Paul Santich since 1942, and stood unused for 25 years. (The family still makes the mustard, but out of New Hampshire). Now the family has decided to exploit land values that Miller says “are approaching $200 per buildable foot” — or $25.4 million.
Comment: This hasn’t stood unused–there have been hipsters shacking up here for years.
Land Grab in Brooklyn [NY Post]