421 Kent Avenue Sells for $40 Million

421 Kent Avenue, in Williamsburg, Brooklyn, has sold for around $40 million, sources have revealed to The Commercial Observer.

It wasn’t clear immediately who the identity of the buyer was, though speculation has swirled whether it is a member of that area’s Hasidic community. The site can accommodate about 400,000 square feet of residential space, but has a restriction penciled into its deed that disallows more than 216 apartments to built on the site, a relatively sparse number of units considering the size of a potential project – the parcel is about two acres in size.
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421 Kent Avenue Sells for $40 Million