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Clipper Equity will soon make $15M a year from the city at 250 Livingston. And it may be a below-mar

Who says city government isn’t good for real estate? David Bistricer’s Clipper Equity will take home nearly $15 million a year from taxpayers after negotiating new lease terms with two city agencies at one of his properties in Downtown Brooklyn. According to PincusCo, the city’s Human Resources Administration and the Department of Environmental Protection will take a total of 342,000 square feet at 250 Livingston Street, with the new 10-year lease kicking in next year. […]

source https://therealdeal.com/2019/04/26/clipper-equity-will-soon-make-15m-a-year-from-the-city-at-250-livingston-and-it-may-be-a-below-market-deal/

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