NY Investors Snap Up $66M Brooklyn Retail, Apt. Parcels

Law360, New York (April 19, 2012, 6:05 PM EDT) -- A pair of New York real estate investors, RedSky Capital LLC and Waterbridge Capital LLC, plunked down more than $66 million for a package of contiguous mixed-use parcels spanning more than 110,000 square feet along Bedford Avenue in the Williamsburg section of Brooklyn, the deal's broker announced Wednesday.

The parcels feature approximately 50,000 square feet of ground-level retail space with 39 residential units on the second story and a 5,000-square-foot vacant lot in Williamsburg's main retail corridor, according to a statement Eastern Consolidated Properties Inc. issued...
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