Metro

Pfizer makes whopping $26M off sale of Brooklyn plant

Pfizer made $26 million selling more than half of its former South Williamsburg complex to a company planning to bring new light-manufacturing and commercial jobs to the long-shuttered site, according to a web report.

Long Island City-based Acumen Capital Partners earlier this month bought eight of 13 acres at the Flushing Avenue complex — Pfizer’s 162-year-old birthplace. The sale price then wasn’t disclosed, but now the real estate blog Brownstoner reports Acumen paid $19 million for the 600,000-square-foot former plant and an additional $7 million for the rest of the nearby parcels.

The sale occurred two years after Pfizer, citing a tough economic climate, dropped plans to redevelop the site with a mixed-use plan anticipated to bring more than 1,000 apartments.

Related stories:

Pfizer plant sells for $19 million (Brownstoner)

Pfizer site can’t support housing, going back to manufacturing (NY Post)