Saturday, February 11, 2012

Big New Development in the Works in Williamsburg

The former Western Carpet warehouse at 204 Wythe Avenue between North 4th and 5th Streets will be demolished, and in its place, a new 5-story building with 157 condominium units will soon rise. The developer expects to break ground on 165,000-square-foot residential building, presently named 50 North 5th Street, in early spring.

SLCE Architects is designing the project, presently named 204 Wythe Avenue/50 North 5th Street, for deep-pocketed real estate developer AREA Property Partners, who recently purchased the property for $27.5 million.

Negotiations to purchase the adjacent 40,000-square-foot building running from Kent Avenue to Wythe on the north side of North 5th Street are presently underway, which could scale project up to 260,000 square feet with more than 235 condominium units.

AREA Property Partners
60 Columbus Circle
New York, NY 10023
(212) 515 3400

SLCE Architects
841 Broadway
New York, NY 10003
(212) 979-8400
 SM Wythe, LLC
2 Manhattanville Road
Purchase, NY 10577
(212) 767-0960