Rezoned Sheepshead Bay site sells for $37M for large affordable housing project
A recently rezoned Sheepshead Bay parcel has changed hands, paving the way for a large-scale affordable housing development. A joint venture between ABS Partners and AAG Management sold the development site at 2185 Coyle Street in Brooklyn for $37 million to Gilbane Development. Gilbane Development will be able to take advantage of a rezoning that the joint venture secured for the site. Gilbane plans to build 470 affordable apartment units, with 100 set aside for affordable homeownership, according to a statement from the company. A team led by Randy Modell and Steven Hornstock of ABS Partners secured the rezoning last […]
This article originally appeared on The Real Deal. Click here to read the full story.
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