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Giant Stalled Site in Williamsburg Sells for $31 Million

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A block-sized lot on South 8th Street between Wythe and Kent Avenues has sold for more than $31.6 million, reports Brownstoner. The site is more than 92,000-square-feet, and it was purchased by Developer Issac Hager for $42.5 million back in 2007. Construction stalled more than four years ago, and the site went up for auction back in February, then was put on the market for $52.5 million. The last work permits issued for the site expired in March, but original plans filed with the DOB called for a seven-story building with 216 units designed by everyone's favorite architect, Karl Fischer.

No word yet on whether the building plans will remain the same. If you have other intel or see any action at the site, the tipline is ready and waiting.
· Forever-Stalled Burg Development Sells [Brownstoner]
June 2011 image of the site via Google StreetView

421 Kent Avenue

421 Kent Avenue, Brooklyn, NY