Today the Journal has an article based on sources that are saying a firm called Waterbridge Capital, which is headed by a developer named Joel Schreiber, has purchased and is in contract to purchase a large assemblage of properties in Williamsburg. The juicy news is that Schreiber intends to build a 245-room boutique hotel right across the street from the site that’s slated to get a Whole Foods on North 4th Street off Bedford Avenue. Here are the details:
The properties include a former bagel shop, a laundromat, a supermarket and a hookah bar. Waterbridge paid about $68 million for the properties and plans to renovate, in the hope of attracting more prominent retail tenants, including a bank. Waterbridge has also signed a contract to acquire most of the eastern portion of the block between Bedford and North Fourth and Driggs and Metropolitan avenues, which is home to moving-and-storage company Sher-Del Transfer, from the company’s owners. The developer plans to build a 245-room boutique hotel on the Sher-Del site and an adjacent vacant lot, according to a person familiar with the matter.
Williamsburg, you’ve heard this before many times, but you’ve come a long way, baby. [Insert comment about lack of Apple store here.]
Block Redo Melds in Williamsburg [WSJ] GMAP
Williamsburg is Getting a Whole Foods! [Brownstoner]
Graphic courtesy of the Wall Street Journal