Green Street plans to demolish the longstanding Crest Hardware store in Williamsburg to construct an 11-story apartment tower with 75 units, emphasizing residential growth in the area.
The transaction involved multiple properties totaling $22 million, which includes significant investments in former store buildings and adjacent garages, showcasing the developer's commitment to urban redevelopment.
TerraCRG described the zoning capability of the site, highlighting the potential to increase buildable square footage through inclusionary housing, which presents flexible development opportunities for Green Street.
Dan Marks, CEO of TerraCRG, noted their expertise in working with family-owned businesses during transitions, indicating a careful and respectful approach to real estate marketing and development.
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