Fifth Square Partners purchases warehouse at 76 N. 4th St. for $26m

New York-based Fifth Square Partners, formerly known as Northstar Property Group, recently purchased the historic Lewis Steel Products warehouse at 76 N. 4th St. in Williamsburg, Brooklyn, from the Tryad Group for approximately $26 million. "This is a classic warehouse building located only four blocks from the Bedford Ave. subway station in a dynamic and increasingly popular neighborhood." said David Berger, co-founder of Fifth Square Partners. "We are very pleased to expand our portfolio to Brooklyn and deliver an exciting and unique residential loft product that will be more true to the character of the neighborhood than many of the new developments in the Williamsburg area." Renovations to convert the 130,000 s/f warehouse into a high-end residential building began August 2007 and are expected to be completed by summer2009. This new project is the highly anticipated follow-up to Fifth Square Partners' recently completed project, 344 Bowery.