Once home to a power plant, the site now offers 230,500 commercial buildable square feet
A massive waterfront site in Williamsburg that was once home to a large power plant is now on the market for an undisclosed sum, DNAinfo reports. The prime real estate location sits just south of the Domino Sugar factory megaproject, which is currently under construction, and the planned Jenga-like towers that will add nearly 900 apartments to the neighborhood.
To build residential however, the property will require a zoning change as it is currently zoned for commercial use. The 2.5-acre site is owned by Con Edison and offers 230,500 buildable square feet as of right for commercial development. That means the site can accommodate retail, offices, and light manufacturing.
Cushman and Wakefield, which is marketing the site for Con Ed, is touting its proximity to the East River Ferry, the J,M,Z trains, and the future BQX streetcar project as a sign of its marketability. With a massive, Gensler-designed office building in northern Williamsburg now moving forward, developers might be more keen on a property that offers a similar scale of development.
A power plant had occupied 500 Kent Avenue since 1905, according to the New York Times, and was used to power the streetcars run by the Brooklyn Rapid Transit Company. Con Ed had subsequently used the plant for nearly 50 years until it ceased operation in 1999. It was demolished in 2008.