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By Accord Real Estate Group

Brooklyn Heights Commercial Real Estate Update

November 4th 2015
Tags: Real Estate News, Brooklyn Real Estate

This blog is a follow up to our blog on August 20th 2015 regarding Hudson Companies Brooklyn Heights proposed Brooklyn Public Library development.

The City Planning Commission has approved Hudson Companies plan to build high rise condominiums with a new state of the art library at the current Brooklyn Public Library site. The next step is for this deal to go to the City Council for approval. Part of this deal is off site affordable housing which will be located at 1041-1047 Fulton Street in Clinton Hill.

Brooklyn Real Estate Companies and Brooklyn Real Estate Agents may also be aware of the following property on the market in Brooklyn Heights.

Midtown Equities which purchased 205 Montague Street, a 77,250 Class A office and retail building in 2010 for $33M has put the property on the market for $49M. With the benefit of air rights, a 700 foot tall residential tower could be built there.

The city had restrictions on the development of this site, however in 2012 Midtown Equities paid the city $3.2M and was able to have the restrictions removed through a deed modification.

For more information on Brooklyn Heights Commercial Real Estate call Jeff and Anna at 718-375-2065.

If you are planning to sell your Brooklyn property, whether a residential property, commercial property, mixed use, multi-family, vacant land, development site, Co op or Condo, call Jeff and Anna. You will be very happy that you did.