More Apartments for Williamsburg at 88 Richardson?

There isn’t much room left in Williamsburg to build more apartment buildings, and one of the last spaces, 88 Richardson Street, has just been snatched up, reported The Real Deal. An entity called 88 Richardson LLC purchased the property in June for $18 million — a price that all but guarantees residential development, according to The Real Deal. Better known as the Meeker Avenue Flea Market — no relation to the Brooklyn Flea — the 50,000-square-foot site has 150,000 buildable square feet — and could have more if affordable units were included. Zoning is MX-8, or mixed-use, so the ground floor could potentially contain stores and restaurants. Construction will start in the next year or two, according to the first mortgage lender on the building. The site is conveniently close to the McCarren Pool and the shopping clustered around Lorimer St. However, we see some potential road blocks to residential gold: The lot is right up against the BQE, and PropertyShark says it contains a toxic site.
Residential Project to Rise on Williamsburg Flea Market Site [TRD]
Photo by Christopher Bride, PropertyShark GMAP