Katan Sells Off South Slope Development Parcel

Isaac Katan's gotten his hands on some notable South Slope/Greenwood Heights development sites, including what's now the Vue on 16th Street and a gargantuan building under construction on 4th Avenue between 12th and 13th streets (formerly known as "The Olive Garden Building"). A developer cannot live on development alone, however. Katan recently sold off some properties he purchased in 2004 on 6th Avenue between 16th and Prospect for $3,525,000. Katan paid $3,100,000 for the large former parking lot and air rights from two adjacent buildings a few years ago, so he didn't clear a huge profit on the deal. Katan never filed new building plans with the DOB for the parcel, and neither has its new owner, a hard-to-unmask LLC. It'll be interesting to see the shape of things to come here. GMAP P*Shark DOB

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"hard-to-unmask": true, but my sleuthing comes up with , Spiro Geroulanos, Trident Developers Inc. as being a likely bet. Not much info on past activities other than plans to convert an old cinema in Dyker Heights into a Great Wall Supermarket. It seems he has an ownership interest in the 10-store supermarket chain.

Posted by: johnife at April 10, 2008 12:10 PM

Well, doubtful old Spiro (if that's who it is, thanks for checking John) won't be putting in an 11th supermarket, since it's zoned R6B along that stretch of 6th Ave.

Perhaps he's broadening his real estate portfolio into residential?

Posted by: Action Jackson at April 10, 2008 12:24 PM

This fence has the best graffitti and for a while, there was an impromptu collage there becasue peope would stick their garbage and paper into all the plastic fence inserts. I walked by a few weeks ago, and someone's welfare ID card was stuck in there. The building next door has some amazing planters with fabric and plastic flowers.

Posted by: Park Place at April 10, 2008 1:21 PM

I always wondered about that site...There was a crew doing test borings in there a week or so ago, so maybe somethings in the works.

Posted by: guest at April 10, 2008 1:43 PM

That's Webster Place behind the lot. It's zoned an itsy bitsy R5B I believe.

Posted by: guest at April 10, 2008 1:52 PM

1:52pm, yes R5B, but 6th Ave is R6B. So I'm sure there's some concern from the lower density streets of a looming back of a building over the Webster Pl. yards. Though, they are up hill.

Posted by: Action Jackson at April 10, 2008 4:09 PM

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April 10, 2008

Katan Sells Off South Slope Development Parcel

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