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January 10, 2008

Big Rental Planned Near McCarren Park

34-berry-satellite-view.jpg
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




Posted by Gabby at 11:01 AM | Comments (4)
Categories: Development, Rentals, Williamsburg

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Comments

If I were a developer in this part of town right now I'd certainly do rentals instead of condos.

Posted by: guest at January 10, 2008 11:36 AM

Hope they don't hit oil again like they did on Roebling Street. Scary!

Posted by: guest at January 10, 2008 11:40 AM

excellent business decision on their part. great location and great need for more rentals in the area. they should do really well.

Posted by: guest at January 10, 2008 1:50 PM

Thank god. The area really needs more rental inventory.

Posted by: guest at January 11, 2008 9:43 AM

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