Old Dutch Mustard Building On Block for $25 Mil
Photo by Brownstoner July 26, 2005, NY Post — Reflecting the astonishing boom in land values, a prime development site in North Williamsburg — the former Old Dutch Mustard Company plant and several adjacent properties — are up for sale. According to Eastern Consolidated’s Alan P. Miller, who is fielding offers, the 47,000 square-foot parcel…
Photo by Brownstoner
July 26, 2005, NY Post — Reflecting the astonishing boom in land values, a prime development site in North Williamsburg — the former Old Dutch Mustard Company plant and several adjacent properties — are up for sale. According to Eastern Consolidated’s Alan P. Miller, who is fielding offers, the 47,000 square-foot parcel can support a residential project of 127,000 square feet under new zoning — like a 7-story condo with stores. The factory, still emblazoned with the “Old Dutch Mustard” sign, has been owned by the family of Paul Santich since 1942, and stood unused for 25 years. (The family still makes the mustard, but out of New Hampshire). Now the family has decided to exploit land values that Miller says “are approaching $200 per buildable foot” — or $25.4 million.
Comment: This hasn’t stood unused–there have been hipsters shacking up here for years.
Land Grab in Brooklyn [NY Post]
I can’t believe it, my co-worker just bought a car for $61727. Isn’t that crazy!
Who lives in the building now?
I’ve managed to save up roughly $26802 in my bank account, but I’m not sure if I should buy a house or not. Do you think the market is stable or do you think that home prices will decrease by a lot?
I wonder if this building can just be torn down, or is it landmarked ? 25 million to buy, then you have to build the condos, for x million more bucks, then you have to sell them for how much to make money ?
That’s true, brownstoner. Used to know an actor who lived in a place on the top floor whose roof would leak all the time.
Nice photo!