Pratt Buys Large Development Site on Emerson Place

Yesterday the Real Deal reported a huge purchase by Pratt Institute: the art school paid $13 million for a 34,700-square-foot development site at 131-137 Emerson Place between Myrtle and Willoughby Avenues in Clinton Hill. DOB already approved plans for a 17-story residential tower. A previous partnership between Cara Development and the Hudson Companies had planned for a similarly-sized residential building for the site, but plans fell through back in 2009 when the market fell apart and construction financing dried up. TRD didn’t get an official comment from Pratt, but writes that the site may become student or staff housing.
Pratt Institute Buys Clinton Hill Development Site for $13 Million [The Real Deal] GMAP P*Shark DOB