40 North 4th Street Changes Hands

One of the last prime lots along Kent Avenue in North Williamsburg has traded hands. 40 North 4th Street, which we’ve discussed in the past under its alternate address of 157 Kent Avenue, was bought last month by a group called Waterview Lofts LLC; the seller, we believe, was the Chetrit Group. This has the look of a distressed sale, given that a Lis Pendens (the first step in foreclosure proceedings) was filed back in May; confusing the picture slightly is the fact that a permit for a new seven-story building was issued in August. As you can see from the photo, new buildings have risen both to the south (175 Kent) and east (224 Wythe) of this lot in the last year. GMAP DOB