Pfizer Conversion Not Happening Anytime Soon

Drug giant Pfizer’s hopes of converting its 660,000-s.f. former headquarters on the border of Williamsburg and Bed Stuy into a mixed income development have been dashed by the grim economic situation, according to an article in The Brooklyn Paper. We have been unable to identify a development proposal that can, at this point, concurrently address the needs and interests of the community, our company and our shareholders, said Pfizer spokesman Chris Loder. The property will remain on the market, though, and local officials remain optimistic that it will one day be developed. They’re not abandoning it and we’re not going to let them abandon it,said Assemblyman Joe Lentol, who’s been pushing Pfizer to include more affordable housing in whatever deal they ultimately do.
Pfizer Pfails to Pfix Pformer Pfactory [Brooklyn Paper]
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