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New York Multifamily

Super-Tall Developer Takes a Detour to Williamsburg

111 W 57th St developer Michael Stern has partnered with Largo Investments to purchase an $8M-plus site at 71 N 7th St in Williamsburg, his first foray into Brooklyn. But rather than erect another mondo skyscraper, they will build a three-story 15k SF condo with ground-floor retail. G4 Capital Partners provided a $5.5M temporary bridge loan until the developers can get a construction loan for the project, Crain's New York reports. Stern has partnered with Largo Investments once before to buy a site at W 24th St near the High Line, where they have plans to build another condo. [Crain's]

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