It’s possible that TF Cornerstone could build multifamily with assistance from the new 485-x tax abatement program and housing elements in Mayor Eric Adam’s City of Yes proposal. Pinnacle Realty of New York’s David Junik and Decio Baio brokered the sale. Pinnacle declined to comment. TF Cornerstone snagged a waterfront site in Greenpoint for $175 million, The Real Deal has learned.
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