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Last night Brooklyn 11211 brought word that pharma giant Pfizer has a deal in place to sell off the last of its big holdings in Williamsburg and that the buyers are not thought to be the coalition of community groups that wanted to see affordable housing built on the site. Today Crain’s reports the story out a bit more, though the identity of the buyers is still opaque: “The pharmaceutical giant said 306 Rutledge Street II LLC, a newly formed company representing investors who have experience in residential and mixed-use properties, is in contract to buy the site for an undisclosed price. …’The investors are committed to redevelopment of the property to provide employment and meet the needs of the local community,’ said Pfizer in a statement. ‘We anticipate that the buyer’s development plans will foster economic stability through new job creation that will benefit the vibrant Williamsburg community into the future. We believe this is a positive step in our longstanding efforts to achieve Pfizer’s community-based principles for the site.'” The two large plots comprise 4 acres. The community groups that wanted to develop affordable housing reportedly offered $10 million. Politicians and residents have talked about building housing on Pfizer’s former holdings for a long time, but the only real action has come via a developer that bought the plant and leased space to some food manufacturers.
Pfizer Sells, But Not to Local Groups [Brooklyn 11211]
Investor Group Swallows 4-Acre Pfizer Site in Bklyn [Crain’s]
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Today the Brooklyn Paper reports that six community groups from Bedford Stuyvesant and Williamsburg are offering to pay $10 million to buy some of the remaining parcels of land near the former Pfizer factory on the Williamsburg/Bed-Stuy border. The organizations, which include the St. Nicks Alliance, United Jewish Care and the Bedford-Stuyvesant Restoration Corporation, say they could build as many as 840 affordable units on the two plots they’re hoping to purchase. Here’s the word from Pfizer and a local politician on the proposal: “A Pfizer spokesman did not comment about the bid, but said the company intends to keep the interests of the community in mind as it plans its future. Neighborhood leaders, including Councilwoman Diana Reyna (D–Williamsburg), applauded the proposal. ‘I believe Pfizer should commit and invest in the community that was home to it for many years,’ said Reyna. ‘It should look to build a comprehensive plan alongside the community.'”
Drug Buy? W’burg Groups Bid on Pfizer Properties [BK Paper]
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Yesterday Grub Street reported that three companies have already signed leases and taken space at the former Pfizer plant, setting the stage for it to become a “booming culinary production facility.” Kombucha Brooklyn, Brooklyn Soda Works, and Steve’s Ice Cream are among the new tenants at the massive complex, which is FDA-approved for food production. The new owner of the facility, Acumen Capital Partners, is in the process of a 5-year conversion of the plant into a space for light-industrial and commercial use.
Williamsburg Pfizer Building to Become Massive Culinary Center [Grub St]
Pfizer Sells Plant but Not Other Parcels [Brownstoner] GMAP P*Shark
Photo via PropertyShark.

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The Brooklyn Paper reports that Pfizer has put the last of its Brooklyn real estate holdings on the market. The pharmaceutical giant is looking to sell three lots at Harrison Avenue near Gerry Street, in Williamsburg. Pfizer’s properties have long been eyed as potential development sites for affordable housing—at one point there were plans to convert Pfizer’s former plant and adjacent lots into a huge mixed-use project with an emphasis on affordable housing—but the Brooklyn Paper notes that it’s unclear what sort of developers will end up controlling the lots. According to the story, a bunch of developers are interested in the parcels, including a team that would like to build affordable housing. Earlier this year Pfizer sold off its manufacturing plant to a company that turned it into a small-business incubator.
Pfizer Angers Locals by Putting Last Three Lots Up For Sale [BK Paper]
Pfizer Sells Plant but Not Other Parcels [Brownstoner] GMAP
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The transformation of the former Pfizer plant at 630 Flushing Avenue into a multi-use commercial building has begun, according to an update Community Board 3’s Economic Development committee chair gave last night. Two companies have moved in so far, Brooklyn Soda Works and an organic beverage company. Pfizer stopped using the complex, which weighs in at 660,000 square feet, in 2008, and sold it for $19 million this year to Acumen Capital Partners, a firm that specializes in converting empty buildings for light-industrial and commercial uses. The conversion will take place over the next 5 years and an effort is going to be made to attract local small businesses to the facility.
Pfizer Plant Goes for $19 Million [Brownstoner]
Pfizer Sells Plant but Not Other Parcels [Brownstoner] GMAP P*Shark
Photo via PropertyShark.