City finance department records show this 7-story loft-style building at 41-43 Division St. was sold earlier this month for $11.5 million. According to the Commercial Observer, the new owner is the Lam Group, a well known Manhattan developer.
The seller was H.K.D.C. Division Realty Corp. A managing partner at Lam Group told the Observer that the company is still deciding what will be done with the building. “It will have to be a [mystery],” Keith Lam said.
The nearly 21,000 square foot property near the Manhattan Bridge has two ground floor commercial tenants: H&F International Business and the Sunrise Kitchen Supply store.
It seems they specialize in Hotel development which I think is a bad sign for Division street and the area.