New York—Normandy Real Estate Partners, Royalton Capital and Sciame Development have bought a 160,000-square-foot industrial property in the Bushwick neighborhood of Brooklyn, and plan a mixed-use redevelopment of the structure. Plans call for a variety of uses upon completion, such as retail and office space, and private and public outdoor space.
The JV purchased the site, which features eight interconnected buildings, for $26.75 million. The Blumstein Team of Corcoran Group represented the seller, Richard Bart Realty, while the locally based TerraCRG represented the buyers in the transaction.
Read more here.