Cheskie Weisz pays $25M to Heatherwood Luxury Rentals for stake in development property in Williamsburg

Cheskie Weisz’s CW Realty through the entity Hope Acquisition LLC paid Heatherwood Luxury Rentals’s HK Dropdown LLC $24.7 million for a stake in the development site at 134 Hope Street in Williamsburg. The deal closed on January 15, 2020, and was recorded on January 24, 2020. The transaction consists of 1 parcel, including the tax class land not zoned residential or Manhattan below 110th Street (V1).
There has been one new building permit application totaling 70,685 square feet. Those plans include a total of 100 residential or hotel units. Weisz plans to expand the site and develop a larger building with 145 units.

Marcus & Millichap’s Said Boukhalfa brokered the deal, which includes other properties and has a total value of $39 million, The Real Deal reported.

The last time the property sold was September 9, 2013, for $12,750,000.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

Correction: A prior version of this story did not identify Cheskie Weisz’s CW Realty as the buyer.