Prolific developer Hudson Cos. has off-loaded a north Brooklyn mixed-use building known as The Breeze, which is home to offices, a rooftop bar and a skate park, for about $20 million, records show.
The Greenwich Village-based firm, whose largely mixed-income and affordable housing-focused portfolio includes $2.8 billion in development projects across the city, according to its website, sold the 3-story property at 314 Scholes St. in East Williamsburg for $19.3 million, according to a deed that appeared in the city register Tuesday.
The buyer appears to be the Brooklyn-based general contracting firm Volmar Construction, which executed the transaction through the limited liability company Tri Jay Owner, records show.
David Kramer, president of Hudson Cos., which is known for its development of the Riverwalk neighborhood on Roosevelt Island and the reimagining of a Brooklyn Public Library branch into the luxury condo building 1 Clinton in Brooklyn Heights, among others, signed the deed himself, records show.
Hudson Cos. acquired the roughly 100,000-square-foot building between Waterbury and Bogart streets for $27.8 million in 2016, records show. The property, which has an alternate address listed as 315 Meserole St., was originally an industrial warehouse and was redeveloped into an office and retail space in 2019 by Hudson Cos. in partnership with ABS Partners Real Estate.
It’s unclear why the company has decided to part ways with the property, which is occupied by the skatepark Substance, the pizza spot Happy Bull Pizza and the seasonal rooftop bar Lohi. Current office tenants include the mobile testing platform Waldo and the real estate firm Purple Realty, but the building’s office space otherwise appears less than half leased, with about 53,000 square feet available, according to CoStar.
Peter Volandes, executive vice president and principal of Volmar Construction, signed for a $14 million loan from Ladder Capital as part of the acquisition, records show.
It’s also unclear what Volmar Construction intends to do with the property or if it’s planning a redevelopment. The Sunset Park-based construction company, which was founded in 1988 by Artemios Marinakis and John Volandes, and commonly contracts with government agencies on projects, such as the city’s School Construction Authority and Department of Housing Preservation and Development, did not return a request for comment by press time.
Hudson Cos., which is partnering with Downtown Brooklyn-based nonprofit Housing Works on the Hell’s Kitchen mixed-use development The Lirio, declined to comment.
