Two Trees Takes Root in Williamsburg: $160 M. Deal for Domino Complex Closes
Jim Hanas June 21, 2012, 2:41 p.m.
So much for those other bidders.
Two Trees has indeed taken over the sprawling Domino Sugar site in South Williamsburg, a deal said to be worth $160 million. CPC Resources, the for-profit arm of non-profit builders CPC that had been developing the site since 2006, announced the deal closed this evening.
“CPCR’s goal for Domino Sugar has always been to bring to the project a well established, reputable real estate company that knows New York and is committed to building neighborhoods and creating communities,” CPC’s President & CEO Rafael Cestero said in a release. “Two Trees is just that, and this deal is a great opportunity to realize our vision for Domino as a vibrant, mixed-income, mixed-use waterfront community and to maximize the economic benefit to CPCR and our partners.”