Developer of Cobble Hill Condos Picks up Another Downtown Lot

Well, this is interesting! In April, the developer behind Cobble Hill condo 233 Pacific Street bought the notorious Princess Hotel at 211 Schermerhorn Street for $4,975,000. Public records show the same developer recently paid $4,600,000 million for the undeveloped lot next door at 213 Schermerhorn Street. Both sites are zoned C6-4/DB which comes with a FAR of 10. The developers haven’t filed any recent permits with the DOB for either of the properties but they’ve now got over 50,000 square feet of buildable space to work with. GMAP