Brooklyn, NY – NY Pfizer made $26 million selling more than half of its former South Williamsburg complex to a company planning to bring new light-manufacturing and commercial jobs to the long-shuttered site, according to a web report.
Subscribe to our Daily Roundup Email
Long Island City-based Acumen Capital Partners earlier this month bought eight of 13 acres at the Flushing Avenue complex — Pfizer’s 162-year-old birthplace. The sale price then wasn’t disclosed, but now the real estate blog Brownstoner reports Acumen paid $19 million for the 600,000-square-foot former plant and an additional $7 million for the rest of the nearby parcels.
The sale occurred two years after Pfizer, citing a tough economic climate, dropped plans to redevelop the site with a mixed-use plan anticipated to bring more than 1,000 apartments.