Former NY Governor Eliot Spitzer, who is back in dad’s family business, is about to buy buy the 2.8-acre Kedem Winery site in Williamsburg, Brooklyn, The Real Deal reports.
The site is two blocks south from Two Trees Management’s Domino Sugar Factory.
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He’s not keping it for wine making, of course, just probably re-selling it to another developer for a lot of money. So if you figured this was a story about how Spitzer makes Kedem non-kosher, you’ve been misled. He’s just turning the lot non-Kedem.
Spizter Enterprises appears to be succeeding where the Rector Hylan Corp. hasn’t been able to close the deal for a few years, TRD reports.
In 2003, Rector Hylan bought six lots between Broadway and South 9th Street for $11.3 million, and possess special permits from the City Planning Commission to build larger, denser buildings than what local zoning rules allow.
Rector Hylan was planning to build a 24-story and an 18-story tower on the property, setting aside 20 percent of the apartments for affordable housing.
But while Rector Hylan was laboring to get those properties together, the market went bust and the project died. The permits lapsed last summer, and the company now rides a three-year extension, to end in June 2016.