A ribbon-cutting ceremony was recently held for The Conservatory, a new 19-unit apartment building in the downtown area.
Jeff and Deane Pfeil of Pfeil & Co. are the developers of the renovation project, which is located at a former department store on 65 Third Ave.
The property stood vacant until the Pfeils acquired it several years ago.
The five-story building will feature 19 one and two-bedroom units, 8,700 s/f of retail space on the ground floor and underground parking for 22 vehicles.
Past tenants of the property include the Troy Conservatory of Music and Stanly Dry Goods.
Brooklyn, NY Marcus & Millichap brokered the sale of 733 Dekalb Ave., a fully free-market multifamily and retail property in the Bed-Stuy neighborhood. The asset sold for $2.8 million.
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