As expected, the listing for Williamsburg foreclosure victim Warehouse 11 has popped up on the website of Massey Knakal, the brokerage now charged with selling off the senior debt on this 120-unit piece of Karl Fischer new construction. The sales listings for the individual units have finally been pulled off the market as well. Per the Massey Knakal listing, featuring a building photo apparently shot from Robert Knakal's dirigible, the North 11th Street development is 95% done and if taken rental could expect to generate around $4.1 million in gross annual income. The bank is still owed $50,766,000, but the notes plainly state "bank requests proposals." Who's got a creative offer?
· Listing: 202-226 North 11th Street [Massey Knakal]
· Warehouse 11: Your Latest Williamsburg Nondo! [Curbed]