There's another wrinkle in the story of notorious missing Williamsburg building 111 Kent, where units were once asking as much as $1.1 million. The ghost building sold last fall for $43.6 million, an impressive price for an unfinished box of condos rumored to be going rental. Here's the latest chapter of the story, via Crain's: the building has sold again, this time for only $24.6 million. The buyers are Laurence Gluck's Stellar Management and Largo Investments, the developer who bought 349 Metropolitan Avenue and took it rental. Take one troubled developer and one nondo maker, add a dash of the Williamsburg market, and what results? The partnership will be finishing up construction on 111 Kent, which they tell Crain's is 90 percent done, and will begin leasing its 62 rental units this summer. Will there also be a robot mural?
· Manhattan landlord buys in Williamsburg for cheap [Crain's]
· 111 Kent Avenue coverage [Curbed]