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Con Edison Selling 2.5-Acre Waterfront Site in South Williamsburg

By Gwynne Hogan | October 7, 2016 2:06pm | Updated on October 10, 2016 8:42am
 The more than 553,000-square-foot property is located at 500 Kent Ave.
The more than 553,000-square-foot property is located at 500 Kent Ave.
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DNAinfo/Gwynne Hogan

WILLIAMSBURG — Con Edison is selling a 2.5-acre waterfront property just south of the Williamsburg Bridge, according to the company's broker, along a stretch of land sprouting with luxury residential buildings.

Brokers at Cushman and Wakefield boast the lot's proximity to the South Williamsburg East River ferry stop, the Brooklyn Navy Yard, the Brooklyn Tech Triangle and the forthcoming Brooklyn-Queens Connector.

While the site, located at 500 Kent Ave., is currently zoned for manufacturing, the buyer could also build offices or other commercial space without further rezoning, Cushman and Wakefield broker Brendan Maddigan pointed out.

"This is a great time to diversify as a developer and build into this office market," he said.

The State's Department of Public Service, which regulates public utilities, will oversee the sale of the property.

500 Kent. Ave. sits just south of forthcoming residential complexes like Domino Sugar Factory and the Edge and faces the Wallabout Channel and the East River.

And while its now vacant, the lot near the intersection of Division and Kent Avenues once housed a generator used to power Brooklyn Rapid Transit's street cars and trains and was then used by Con Edison for 50 years before it shut down in 1999, according to the NYTimes.

While other industrial buildings on the waterfront achieved landmark status like Domino Sugar Factory, the power plant never did and preservationists looked on in dismay when it was torn down in 2008, the NYTimes reported.

Biznow earlier reported that the Con Edison site was for sale.