Williamsburg

A 15,000-square-foot spread on the Williamsburg waterfront sold for $5 million, according to a deed that was recorded in city records on Friday. The property, on South 4th Street and Kent Avenue, has a great back story that Curbed has been tracking for a few years: It was owned by artist Cosimo Cavallaro, who planned to turn the former bakery into an 11-story luxury condo called Punctilio back in 2004. In 2008, Cavallaro decided to simply try to sell the building instead, listing it for $12.8 million. The price was later reduced to $5.95 million, then dipped to $5 million and was most recently on the market for $6 million. Here’s the description of 331-333 Kent Avenue from the final listing: “Originally a bakery, this unique three story 10,000 sq. ft. brick loft-like building with 5,000 Sq. Ft. finished basement rests on a 68 ft. x 100 ft corner lot, with approximately 10,000 square feet of air rights. It was fully renovated, with careful attention to preserving and restoring the buildings architectural details, including the original wood beamed ceilings, and converted into an impeccably designed residential home and multiple areas suitable for art galleries, offices, working or retail space. Adjacent to the property there is a private, meticulously landscaped garden ideal for entertaining or for future use as a garden restaurant. A two-car garage, a laundry room, a chef’s kitchen, marble bathrooms and powder rooms, dry-sauna, new mechanicals, and a sophisticated security system complete this magnificent property.” The deed doesn’t shed much light on the buyer (“Kent Avenue Realty Trust”) because a trustee based in Boston signed on the dotted lines. The question is whether it’s going to be developed or used as a residence.
331 Kent Avenue [Curbed] GMAP
Elliman Listing [StreetEasy]