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555 Broadway Update 01/27/22

Williamsburg Development Site Scooped Up for $54M

A vacant development site, located at 555 Broadway in Williamsburg, Brooklyn has just been sold for $54 million. The site was purchased by Bridge City Capital from previous owner, The Collective, in a deal brokered by JLL.

At well over 30,000 square feet, the lot offers a buildable square footage of 330,000. This property is also desirable for developers because of its proximity to the Lorimer Street subway station, sitting less than a block away. The Collective bought the site for $13.5 million back in October of 2018 and the company will earn a hefty profit for its three short years ownership.

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