Al Laboz Buys Another Piece of Downtown

According to The Real Deal, one of Downtown Brooklyn’s biggest property owners has just expanded his footprint: Al Laboz’s firm United American Land purchased the dorm at 184 Joralemon Street from Brooklyn Law School for $10.7 million. Several months ago there was news that a company called BCN Development was buying the building and would turn it into a condo, but sources say that deal fell through and Laboz’s firm intends to convert the building into a luxury rental instead. Rents are expected to run between $3,500 and $5,000. The city recently selected Laboz’s firm, which has significant holdings on Fulton Street, to develop retail in a section of the Municipal Building.
Laboz Family’s Firm Buys Disputed Brooklyn Dorm for $10.7M [TRD]
184 Joralemon Conversion Coming Soon [Brownstoner]
184 Joralemon Going Condo [Brownstoner] GMAP