Big Rental Planned Near McCarren Park
A new development near McCarrren Park is going to buck the Williamsburg condo-construction trend. Last month Manhattan-based real estate firm LCOR partnered with Lehman Brothers and the California State Teachers’ Retirement System to buy 34 Berry Street, and they plan to build a 6-story, 140-unit rental on the site. The project’s apartment mix is going…
A new development near McCarrren Park is going to buck the Williamsburg condo-construction trend. Last month Manhattan-based real estate firm LCOR partnered with Lehman Brothers and the California State Teachers’ Retirement System to buy 34 Berry Street, and they plan to build a 6-story, 140-unit rental on the site. The project’s apartment mix is going to be about 50 percent studios, 40 percent one-bedrooms, and 10 percent two-bedrooms, according to LCOR senior vice president David Sigman. Construction on the building is going to start this spring and it should be finished by summer ’09. GMAP P*Shark
Thank god. The area really needs more rental inventory.
excellent business decision on their part. great location and great need for more rentals in the area. they should do really well.
Hope they don’t hit oil again like they did on Roebling Street. Scary!
If I were a developer in this part of town right now I’d certainly do rentals instead of condos.