Pryor Cashman Represents Blesso Properties in Acquisition and Financing of Williamsburg Property
Pryor Cashman client Blesso Properties has purchased a development site at 525-545 Broadway in Williamsburg, Brooklyn for $33 million. The site is located on the J/M/Z train corridor at the corner of Boerum Street and Broadway. Blesso intends to redevelop the premises as a mixed-use retail and residential complex consisting of in excess of 100,000 square feet of zoning floor area.
Partner Dennis Sughrue, a member of Pryor Cashman’s Real Estate Group, represented Blesso Properties in the transaction, which included the negotiation of a preferred equity investment and mortgage loan financing. The transaction was reported in the August 27, 2015 edition of The Real Deal. To read the article, entitled, “Blesso buys Williamsburg site with 190K buildable sf for $33M,” please click here.
