The 54,850-square-foot Williamsburg commercial carpet warehouse at 204 Wythe Avenue purchased by Area Property Partners at the end of October is slated to be transformed into a five-story, 157-unit building, according to Bronwstoner. It was not immediately clear whether the property would be a condominium or a rental.
Area purchased the warehouse, between North 4th and 5th streets in Williamsburg, for $27.5 million a few weeks ago and has filed an application with the city for the redevelopment of the site. Architecture firm SLCE will be designing the building, Brownstoner said.
The property, which was previously owned by Western Carpet company, is already zoned for residential. Zoning allows for a 165,000-square-foot residential building. [Brownstoner]