Nicholas of Kalmon Dolgin arranges $22m sale of 42,000 s/f Brooklyn land parcel

In a transaction valued at $22 million, Kalmon Dolgin Affiliates' Joe Nicholas arranged the sale of a 42,000 s/f development site on North 3rd St. in the Williamsburg neighborhood, according to Neil Dolgin, executive vice president of Kalmon Dolgin. Nicholas represented the buyer, Henry Wollman of Quadriad Realty Partners LLC, and the seller, Wydra Enterprises, in the transaction. The property is a vacant block-long parcel along North 3rd St., encompassing the addresses 201 Berry St. and 248 Bedford Ave. "As developable land parcels in Williamsburg grow harder to find, the North 3rd St. site sale represented an unusual and incredible opportunity," Nicholas said. "The buyer plans to develop approximately 82,000 s/f of residential space with underground parking and retail uses; with the L train just one stop from Manhattan and unique shops and restaurants, this was the absolute perfect location." Kalmon Dolgin Affiliates is a 104-year-old, Brooklyn-based real estate firm. In addition to providing brokerage and management services, Kalmon Dolgin has acquired $300 million of its own real estate assets within the past year alone, primarily industrial and medical/office properties.