The Jay Group has acquired several properties in Downtown Brooklyn for redevelopment, spending $62.5 million, with plans for a large mixed-use project yet unclear.
The development site acquired by The Jay Group is strategically positioned across from City Point, which boasts numerous retail and residential amenities, highlighting its potential.
The Jay Group's purchase includes various properties and air rights within the Special Downtown Brooklyn District, which offers tax incentives for projects with affordable housing.
No building permits have been filed for The Jay Group's newly acquired site, indicating that while plans are underway, the exact development intentions remain undisclosed.
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