Recent news coverage of real estate development in the Bushwick and Williamsburg sections of Brooklyn featured Tarter Krinsky & Drogin’s client Cayuga Capital Management LLC and its principals Jacob Sacks and Jamie Wiseman. Cayuga is a private firm that acquires, develops and operates undervalued real estate assets in improving neighborhoods.
A New York Times article highlighted Cayuga’s retail development in Bushwick, where the firm is converting two old manufacturing buildings to a 10,000-square-foot shopping center. The new retailers, including an organic grocery store and a wine shop, will serve a changing area that is currently “starved of retail,” as Mr. Sacks noted.
One of Cayuga’s new residential rental properties in Williamsburg, a converted quinine factory at 44 Berry Street, was used in a New York Magazine story as an example of how “one developer’s misfortune tends to be another’s opportunity.” Mr. Wiseman explained that the loft-style apartments on Berry Street, which are more modestly priced than many others in the neighborhood, are designed to be shared and to appeal to Williamsburg’s creative population.
The Construction Practice works with Cayuga on all aspects of its residential and retail projects in Williamsburg and Bushwick, from acquisition and financing through leasing agreements. Partner David Pfeffer, co-chair of the practice, leads the team that partners with Cayuga.
|Pfeffer, David J. Partner and Chair of Construction Group||Partner and Chair of Construction Group||212.216.8075|