Tony Argento to Buy Another Greenpoint Property
(post bt BT) Tony Argento is at it again. Sources say 359 Kingsland Ave Brooklyn, NY 11222 is on the table. Financially-backed, most likely, “as usual” with studio money, Tony has offered between $10-$12 Million for the subject location. 148,000 buildable M3-1 zoning in the heart of Northern Brooklyn (Greenpoint), bringing the purchase price to $67.57 per buildable sq ft. That’s nuts for a location like this!. But looks like he already put a deposit on it, meaning the owners feel this is a fare value for the property. The owners are the Kreger family, aka Kreger truck rental.
Good to see some transactions at decent prices. That’s why we needed the correction… so we could get back to business at a more fundamental pricing that makes sense for the developers.
Comment by Richard Stabile Bergen County Real Estate on 22 June 2009:
I suppose he is one of the few still getting financing for projects.