Monday, 15 August 2016

Future of Williamsburg's Trader Joe's is uncertain as site sells

The Kent Avenue site poised to give way to the grocery store has traded hands

Williamsburg’s Whole Foods has finally made its official debut, but now the neighborhood’s less crunchy, frozen food-loving folk may not see their grocery store of choice land in the neighborhood. The long-empty lot at 206 Kent Avenue between North 3rd Street and Metropolitan Avenue that was poised to give rise to a Trader Joe’s has just traded hands.

Alliance Private Capital Group has sold the site to two anonymous entities for $33 million, nearly double what they paid for it in January 2014, Commercial Observer reports (h/t YIMBY). Alliance had planned a 45,000 square foot office and retail building with an 18,000 square foot Trader Joe’s on the ground floor. Whether or not the new owner(s) will move ahead with that plan is unclear.



from
http://ny.curbed.com/2016/8/15/12481246/williamsburg-trader-joes-nyc

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