From B+B Capital:
Williamsburg is one of Brooklyn’s most popular and exciting neighborhoodss, which straddles the old and the new. It is an influential hub of the artist community but is being refined by a growing populations and rapid development of housing and retail space.
Acquired by B+B Capital in January 2014, 200 South 3rd Street currently consists of adajcent lots (50’ x 95’ and 43’ x 71’) in Williamsburg, Brooklyn. B+B Capital has entered into an agreement to purchase the land for $6,500,000. is R6 zoned with plans for a 43,000-square-foot development. This will include residential usage (20,000 square foot), a community facility (15,000 square foot), and 8,000 square feet of parking.
There are approximately 30 residential units consisting of studio, one or two bedrooms, featuring 9ft ceilings, terraces and the building will have a shared rooftop. B+B Capital strongly believes that Williamsburg is ripe for development, as the increasing demand for apartments far outweighs the current supply. Located five minutes from Manhattan, this area has become a hotbed of culture, cuisine, fashion, art, and music.