670 Pacific Street is sold to Catsimatidis

Looking east toward Newswalk; B15 site at right

John Catsimatidis, a prolific developer, supermarket owner, and sometime political candidate, has bought 670 Pacific Street, the 8-story, 86-unit rental building situated between the Newswalk condos and the unbuilt B15 site, aka 664 Pacific.

The Real Deal reports that Catsimatidis’ Red Apple Group paid $69.2 million to Read Property Group, a little more than he wanted, but he had proceeds from another sale he wanted to deploy.

“This reinforces our love for Brooklyn and our trust in the borough," he said.

OK, but does he know that a 27-story building is coming next door, and there likely will be work developing over the railyard for years?