A former plastics factory in Greenpoint, Brooklyn, has been sold to a developer for $23.3 million.
Dupont Street Realty LLC, plans to develop the site into a 400-unit residential apartment building with 200 parking spaces.
Kalmon Dolgin Affiliates, Inc. (KDA) arranged the sale of the 100,000s/f property at 49 Dupont Street in Greenpoint.
Berel Nagel, a broker at Kalmon Dolgin Affiliates, represented the seller, 49 Dupont Realty Corp., and the buyer, Dupont Street Realty LLC, in the transaction.
Forty Nine Dupont Street, located between Manhattan Avenue and Franklin Street, had been vacant for nearly a decade before KDA was appointed the exclusive leasing agent for a six month period. It was during that time that KDA was able to negotiate the sale.
Former tenants at the property include Harte & Co., and later, Flexon Industries, both plastics manufacturers. The buyer, Dupont Street Realty LLC, plans to develop the site into a 400-unit residential apartment building with 200 parking spaces. The property offers 280,000 buildable square feet and has views of the Greenpoint waterfront.
“Kalmon Dolgin Affiliates was proud to negotiate for the buyer and seller in the transaction of this well-known Brooklyn site, 49 Dupont Street,” said Nagel. “KDA was initially brought in to lease the property, but as the market showed signs of improvement, the owner decided he wanted to sell the property. It turned out to be a successful deal for both parties, and the addition of a residential building will contribute to the appeal of the area.”
The site at 49 Dupont Street offers access to the Brooklyn-Queens Expressway, Williamsburg Bridge, the East River Ferry, and G subway line.