Midtown-based Bridgewater Capital Partners has entered contract to acquire, for $60.5 million, the block-long development site at 53 Huron Street, located between West Street and the East River in Greenpoint. The current property owner is London-based Quadrum Global, which never moved forward with plans to develop the site after a joint venture with Bridgewater failed.
The site spans two zoning districts, with part of the property along West Street benefiting from C2-4 zoning and the majority of the lot along Huron Street under R6 zoning. The site could accommodate up to roughly 180,000 square feet of residential space, The Real Deal reported.
In 2014, Quadrum envisioned a two-tower, 500-unit mixed-use development at the site, which would have required a rezoning. Bridgewater has not disclosed plans for the site. The 148,023-square-foot lot is currently occupied by a two-story warehouse. Demolition permits have not been filed.