Pfizer Sells the Last of Its Holdings to Development Firm

Pfizer sold off the last of its Williamsburg holdings for $12.75 million, reports the Real Deal. The lot in question comprises two sites over four acres on Wallabout Street and Harrison Avenue. The community first got wind of the sale back in April, but the buyer was unknown. Now that the sale hit public records, it’s known for a fact Pfizer passed over the bid of $10 million placed by numerous community organizations hoping to develop 840 units of public housing. It’s said the development company, under the LLC “Harrison Realty,” will build both a residential and commercial development. As TRD points out, a zoning change is required to build residential here.
Pfizer-Owned Development Site Trades for $12.75M [TRD]
Pfizer Sells off Another Chunk of Its Williamsburg Property [Brownstoner]