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By Accord Real Estate Group

Brooklyn Development Projects Update- p1

March 24th 2024
Tags: Brooklyn Blog, Brooklyn Real Estate

The market forces supporting Brooklyn Residential Real Estate projects moving forward into 2024/2025 remain strong. Go Brooklyn!

This is part 1 of 2 blogs summarizing a few projects planned and in various stages moving forward, in several Brooklyn, NY neighborhoods, including one amazing far south neighborhood, Brighton Beach.

Permits have just been filed for a 5 story, 53 foot tall, 16,479 square feet, 22 unit building located at 2954 Brighton 6th Street, between Neptune Avenue and Oceanview Avenue. The site is just steps from the Brighton Beach subway station where the B and Q lines are and 2 blocks from the beach and historic Coney Island boardwalk. Walkability for this location is very high.  There will be 9 open parking spaces and 3 enclosed parking spaces. The units will most likely be rentals, as the average unit will be 749 square feet. Beekman Towers Holdings LLC is the owner. Isaac & Stern Architects is the architect of record. The completion date of the project has not been posted yet.

Moving on from a relatively small project in Brighton Beach to 1 of 2 larger mixed use, residential and commercial projects underway in Crown Heights, there is a 17 story building just getting underway with foundation work located at 1034 – 1042 Atlantic Avenue, between Atlantic Avenue & Pacific Street, Classon and Grand Avenues. Planned is a 175 foot tall, 172,789 square foot, 193 unit (average 828 square feet per unit) rental building with 12,980 square feet of commercial space, a cellar level, a 62 foot long rear yard, 20 enclosed parking spaces and one loading berth. The developer is Elie Pariente of EMP Capital Group and the building was designed by Archimaera Architecture. Countrywide Builders is the general contractor. Winter 2025 is the estimated completion. The C line and shuttle trains at Franklin Avenue are the closest to the building.

From a Crown Heights project underway to a Crown Heights project that has topped out, located at 953 Dean Street, bound by Pacific Street to the north, Dean Street to the south and Classon Avenue to the west. This 234 unit (average 694 square feet per unit) rental building is 164,763 square feet, 95 feet tall, has a 42 foot long rear yard, 2,207 square feet of commercial space and 88 enclosed parking spaces. The building was designed by JFA Architects & Engineers and developed by Clipper Realty. Twin Group Associates is the general contractor. The upper levels of the building are set back and are surrounded by landscaped terraces. Completion expected for Summer 2025. The A & C lines at Franklin Avenue are the nearest subway to the building.

In Fort Greene's Brooklyn Academy of Music Historic District, developer Watermark Capital Group's Wolfe Landau plans to purchase the church property located at 144 Saint Felix Street. Landau recently signed a contract to purchase the church for $15M, which has 164,460 square feet of development rights. The church is seeking court approval for the sale. Closing is expected to be within 75 days of court approval of the sale.

Go Brooklyn!

Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Sincerely yours,

Accord Real Estate Group

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