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By Accord Real Estate Group

Brooklyn Development Project Update

June 16th 2017
Tags: Real Estate News, All about Brooklyn New York, Brooklyn Real Estate

From one end of Brooklyn to the other, the borough remains hot with new projects being planned, completed and units selling or leasing for top market prices.

A few of the latest large projects being planned and underway are for example, a 1.5 acre waterfront site at 1 Huron Street in Greenpoint. Developer Bridgewater Capital Partners are developing 180,000 square feet for a residential building. The site was purchased for $60.5M or approximately $320 per buildable square foot.

Mack Real Estate Group and Palin Enterprises are moving forward with a 39 story 640 unit mixed use complex at 10 Huron Street and 19 India Street. The project includes 19,324 square feet of ground floor retail, 3,802 square feet of medical offices and 894 square foot residential units of which 128 units will be affordable housing. Ismael Leyva Architects are designing the project which should be completed by 2018.

The partnership of Greenland USA and Forrest City Ratner are planning to move forward to complete their Pacific Park Brooklyn project in 2017. The partners are currently completing 3 projects: a condominium project at 550 Vanderbilt Avenue and rental buildings at 535 Carleton Avenue and 38 6th Avenue.

Rabsky Group has assembled development rights for 770,000 square feet in the red hot Downtown Brooklyn neighborhood at 633 and 625 Fulton Street. Plans are for 75,347 square feet of ground floor retail at 625 Fulton Street and another 72,676 square feet on the lower level. The site was purchased for $158M in January 2016. Last month Rabsky & Spencer Equity purchased the lot at 633 Fulton Street for $68M. A mixed use project is planned for the site.

If you are planning to sell your residential, commercial, mixed use building, vacant land, co op apartment or condominium call us. You will be very happy that you did. Please visit Client Testimonial page to read about many of satisfied clients’ experiences with our company.

Thank you,

Accord Real Estate Group