Two Trees pays $150M to ConEd for development site in Williamsburg

The Walentas family’s Two Trees Management through the entity River Street Partners LLC paid Consolidated Edison Company of New York $150.0 million for 87 River Street and 105 River Street in Williamsburg. The deal closed on December 11, 2019, and was recorded on December 12, 2019. The transaction consists of 3 parcels, including the tax class electric utility or gas (U2).
The property was marketed by Cushman & Wakefield. The plans for the development include two rental towers with a total of 1,000 units, including 250 that will be affordable, as well as 30,000 square feet of retail, 57,000 square feet of office, a 47,000 square foot YMCA and a waterfront park. The project must go through the city’s ULURP process.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link