It's a Friday in March, so apparently it's time for the reanimation of another stalled Williamsburg development. Or two. After the news earlier today that 66 North 1st Street has returned to the market, Crain's reports that two more dormant Burg projects are back from the dead: 390 Lorimer Street and 12-14-16 Monitor Street. Talk about freaky Friday! An LLC called Nachas 180 (behind which is an anonymous developer, according to Crain's) purchased the in-default loans for both projects for a total of $8.1 million. The Nachas honchos own the deeds for each building, too, so construction work can resume ASAP. Looks like predictions of total disaster for the arrested developments in 390 Lorimer's stretch of Williamsburg, at least, might not come to pass. Assuming that front door gets a power wash before the first open house.
Two More Stalled Williamsburg Projects Rise From the Grave
Copyright CURBD
