Second Lot in Broadway Triangle Parcel Closes for $6 Million

A large development site at 100 Union Avenue, south of Broadway in Williamsburg’s Broadway Triangle, sold last week for $6,000,000, a spokeswoman for brokerage firm TerraCRG told us. The 10,453 square-foot lot is currently occupied by Knight’s Towing and Collision. The buyers, Adam America, Slate Property Group and Naveh Schuster Limited, plan to build rental apartments with ground floor retail.

The same developers also bought neighboring 120 Union Avenue in September of 2014 for $15,000,000, where they plan to build a 100-unit rental building with about 2,000 square feet of retail on the ground floor. Both lots were initially marketed together but the sellers decided to wait longer on the second lot so they could continue operating their towing business, according to TerraCRG.

If the developers choose to include affordable housing at one or both sites, they could build up to 130,000 square feet on the sites combined. TerraCRG represented the sellers.

Click through for an aerial view of the lot.

Rendering for Six-Story Apartment Building Coming to Broadway Towing [Brownstoner]
Photos via TerraCRG