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By Accord Real Estate Group

Brooklyn Development Projects Update- p2

April 7th 2024
Tags: Brooklyn Blog, Brooklyn Real Estate

A wonderful project is coming to the Flatbush neighborhood, located at 2366 Bedford Avenue. The site is the sprawling Sears Roebuck Catalogue Printing facility. Clipper Equity, the project’s developer has secured a $140M construction loan for a new 7 story residential building. The project is being designed by S. Weider Architects. In addition, the plans call for 354 multi family units, ground floor retail space, 236 parking spots and a variety of amenities including a cafe, a business lounge, saunas, a cycle studio and a golf simulator. Construction is being done by Manhattan Management Realty. Completion is scheduled for 3rd quarter of 2025.

In Downtown Brooklyn, NY foundations are progressing at the site of a 25 story residential building located at 150 Lawrence Street. The building is being designed by JFA Architects and Engineers and being developed by Solomon Schwimmer. Schwimmer purchased the property for $23M. The building will be 250 feet tall, 82,366 square feet with 101 units averaging 734 square feet, 8,201 square feet of commercial space, a cellar level and a 32 foot long rear yard. Twin Group Associates is the general contractor for the project. Completion date is expected to be September 2025. The nearest subway is at Jay Street - Metro Tech with the A, C, F and R trains.

Still yet another project in Crown Heights is topping out and is located at 311 Eastern Parkway, between Classon and Franklin Avenues, near Prospect Park. This 8 story, 75 foot tall building has 5 condominium units. The building was designed by Bowerbird Architects and developed by Harpia, a Brooklyn based company. LXC Construction Inc and Augmented Construction are the contractors for the project. Each condo unit as private outdoor space. The layout of the building is two double height units on the top 2 floors, the middle 2 levels will have 2 bedroom apartments and a triplex townhouse with a private backyard will be at the lower level of the building. All units will be accessible by a keyed elevator. The project has a variety of eco friendly features such as Certified Passive House windows and Passive House ERV air purification systems. The nearest subway is Franklin Avenue-Medgar Evers College Station with the 2, 3, 4 and 5 trains.

Brooklyn Heights may see what is planned to be a 47 story residential tower project located at 205 Montague Street. Former CEO of Fortis Property Group, Jonathan Landau has filed an application with the Department of Buildings. Mr. Landau wants approval to build a 410,000 square foot mixed use building, 672 feet high with 136 apartments. West Hill Architects is the architect of record. Still to be determined whether the project will have condos or be a rental building. A condo project is more likely since there has been no replacement for the 421a tax abatement for rentals. The project may include the property at 195 Montague Street for a total of 525,000 square feet, with 285,000 square feet for residential use and 240,000 square feet for commercial space. Plans call for a restaurant on the 1st and 2nd floors and a below ground parking garage. Midtown Equities owns the site of the proposed tower to be built.

To be continued...

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