Crain's New York Business reports that Brooklyn industrialist John Quadrozzi Jr. purchased Kensington Stables at an auction in December. He is going to "preserve the stables and keep current management in place for a minimum of five years."
Quadrozzi's plans include "refurbishing the barn, making the stable a more active operation, partnering with community groups and gaining the city’s help in improving the bridle path in the park."
He will also seek a zoning variance to build seven or eight floors of residential units on top of the stable.
Kensington Stables was declared bankrupt in February 2017 after one hundred years of operation. Since 1993, it has been owned and operated by the Blankinship family.
The deed states that Edna Blankinship grants the land and building to Prospect Park Stable, LLC (John Quadrozzi Jr.) for the full sale price of $1,000,000. "Full Sale Price is the total amount paid for the property including personal property. This payment may be in the form of cash, other property or goods, or the assumption of mortgages or other obligations."
Kensington Stables
55 Caton Place, at E. 8th Street
phone: (718) 972-4588
e-mail: info [at] kensingtonstables.com
website http://www.kensingtonstables.com
Facebook: https://www.facebook.com/KensingtonStables
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