Yesterday the Post reported that the developer behind the Williamsburgh Savings Bank Tower condo conversion is planning to build a high-rise in the BAM Cultural District. This time ’round, however, the Dermot Cos. is eschewing condos in favor of rentals. The firm recently partnered with Grosvenor Investment Management to purchase the parking lot between Flatbush, Fulton and Rockwell Place, where they intend to start building in 2009. Taken together with the Son of Oro and the Avalon Myrtle, is it fair to say that rentals are the new condos?
Realty Check [NY Post] GMAP