CW Realty buys controversial Crown Heights development site for $40M

Cheskie Weisz’s CW Realty Group has snapped up a Crown Heights development site after the City Council approved a controversial rezoning of the property. The Brooklyn-based developer bought 73-99 Empire Boulevard for $40 million from a group of investors that includes Manhattan-based Bridges Development Group and Harry and Alex Adjmi’s A & H Acquisitions, a source with knowledge of the deal said. The sale comes after the City Council approved the rezoning of the long-neglected corner lot, originally developed as a single-story garage, paving the way for a 13-story, 250,000-square-foot mixed-use development with 20 percent of the units set aside […] This article originally appeared on The Real Deal. Click here to read the full story.