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January 10, 2008
Big Rental Planned Near McCarren Park
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
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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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