Forever-Stalled Burg Development Sells

The huge South Williamsburg lot taking up an entire block of South 8th Street between Kent and Wythe avenues sold to an unknown developer for $31,610,034.91, according to public records. Development at this lot has been frozen for years; construction first started up in 2008. Developer Issac Hager paid $42.5 million for the lot back in 2007. The last approved plans, according to the DOB, was for a seven-story building designed by Karl Fischer. The DOB has not approved any new work permits here since last March.
Development Watch: 36-54 South 8th Street [Brownstoner]
Development Watch: Hager Wasting No Time at 421 Kent [Brownstoner]
Hager Re-Ups in Williamsburg Big-Time [Brownstoner]