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Developer to Pay $55 Million For Multiple Greenpoint Sites, Large Residential Development Planned: Report

280 Franklin St., one of the lots up for purchase. (Google Maps)

April 25, 2018 By Nathaly Pesantez

A developer is eyeing a massive purchase of several properties close to the Greenpoint waterfront to make way for a large residential project, according to a newly-released report.

Yoel Goldman, who runs the Brooklyn-based All Year Management, is gearing up to acquire a large development site bordered by Franklin, Clay, and Dupont Streets, The Real Deal reported.

Goldman reportedly signed a $55 million agreement a number of weeks ago for a 10-parcel site made up of warehouses and taking up almost half the block between Franklin Street and Manhattan Avenue.

The development site (Google Maps)

The developer intends to build a residential complex comprised of a number of structures on the sites, sources told The Real Deal.

The Greenpoint properties, however, are contaminated, and require an environmental clean up before they can be developed.

The sites had been in the hands of investors who planned to build market rate and affordable apartments on the properties. However, they never got around to cleaning up the parcels.

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