JOINT VENTURE TO DEVELOP BOUTIQUE HOTEL IN BROOKLYN

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NEW YORK CITY — A joint venture between Greenwich Street Equities and Kuzari Group have acquired four lots at 645-651 Union St. in Brooklyn for $2.5 million. The joint venture plans to develop an 82-room boutique hotel with construction slated to begin in the spring of 2013. The site contains 19,000 buildable square feet. Kenneth Freeman of Massey Knakal represented both parties in the transaction.

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