KW Commercial brokers 340,000 s/f sale for Forest City and Kleger Family

Mike Annese of KW Commercial-Keller Williams represented Forest City Enterprises and The Kleger Family Trust in the purchase and sale of two mill buildings totaling 340,000 s/f for the conversion to 303 two-bedroom apartments under the city's new 40R zoning. The sale price was $6 million. The properties are located at 98-108 Essex St. and 10 Duncan St. The $70 million renovation and construction project, which include a 2-story garage, is expected to begin soon and take 18 months to complete. The transaction is one of the largest sales in the city`s history.