This is not a huge surprise — money talks in this town. But still, fuck this guy and the bureaucrats who will let it happen.
A partnership between the real estate investment groups Midtown Equities and East End Capital has secured an option to purchase the most closely watched development site in Brooklyn, according to sources. The two firms have signed a contract to acquire CitiStorage, an 11-acre parcel on the Williamsburg waterfront where they can build retail and office space. It wasn’t immediately clear what the two firms are negotiating to pay. Norman Brodsky, who owns the land and built the warehouses on it, told Crain’s earlier this year that he had received offers for more than $250 million for the site. [Read more...]