A landowner named Hezekiah Beers Pierrepont started selling plots of his Brooklyn land in the 1820s restricted by eight-foot setbacks still in effect today, rankling modern developers.
Alexico Sues Rockrose, St Francis College Over Campus Sale therealdeal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from therealdeal.com Daily Mail and Mail on Sunday newspapers.
These Were The Top Outer-Borough Loans in May therealdeal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from therealdeal.com Daily Mail and Mail on Sunday newspapers.
11 East 26th Street with Henry and Justin Elghanayan (Google Maps, Getty)
UPDATE, April 30 2021, 11:25 a.m.: At least one developer is looking at the office market through rose-colored glasses.
Rockrose Development purchased a 14 percent interest in a 218,000-square-foot office building at 11 East 26th Street in Nomad for $32.9 million. The investment values the pre-war building at $235 million, down only slightly from its pre-pandemic valuation of $246 million.
The purchase gives Rockrose a 42.5 percent tenant in common interest in the building, according to property records, which is a non-controlling share. Adams & Company’s David Levy, whose firm is the managing agent for the building and first bought into it in 1968, said he expects no major changes to the property.