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$102 Per Buildable Square Foot for Future Condo Site in 'Burg

Another slice of the Williamsburg pie may go condo, with a lot on North 8th between Havemayer and Roebling selling for $12.3 million in cash to build what could be a 120,000-square-foot residential development. Van Benson Management, which has owned the 17,500-square-foot plot near the BQE since 1997 "decided to sell the vacant lot because the company's primary business is not in development." No kidding: there was a $31 million lis pendens filed against the site in 2009 and the selling broker mentions that the parcel could have sold for twice the price at the height of the market three years ago.
· Williamsburg building site fetches $12.3M [Crain's]