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By Accord Real Estate Group

Downtown Brooklyn Development Update

November 18th 2015
Tags: Brooklyn Blog, Real Estate News, Brooklyn Real Estate

Quinlan Development Group and Joint Venture partner Land & Technology have purchased a 10 story building located at 41 Flatbush Avenue for $89.4M.

There will be ground floor retail and Class A office space that will occupy the remainder of the 266,866 square feet building. There are some wonderful period details in the interior of the building, such as 13 foot high terra cotta ceilings. Greg Bates of Land & Technology says that “ We happen to believe the demand for creative office space is accelerating”. Tucker Reed President of The Downtown Brooklyn Partnership says that “We maintain a list of companies that want to move into Downtown Brooklyn”. “That list is up to 100 companies”. Quinlan partner Tyler Wilkins adds that “I think we are seeing a real demographic shift, where Manhattan companies want to move or open up offices in Brooklyn for people who want a shorter commute”.

Developer Adam America Real estate and Slate Property Group have closed on their purchase of a development assemblage at 8-16 Nevins Street. The price tag for the properties was $47.75M. There is a 33 story 180,000 square foot residential building planned that will have 150 units. Vanke, a Chinese developer is partnering with Adam America and Slate to build the project.

JDS Development will build Brooklyn’s first 1,000 foot high skyscraper to be located at 340 Flatbush Avenue Extension. The architect is SHoP. There will be 466,000 square feet of residential space for 550 units and 140,000 square feet of  Commercial space for a total of 90 floors.

There are many real estate companies in Brooklyn and real estate agents in Brooklyn excited about the amazing transformation of Downtown Brooklyn.

If you are planning to sell your Brooklyn property whether Residential property, Commercial property, Multi Family, Mixed Use, Vacant Land, Development Opportunity, Co op or Condominium, call Jeff and Anna at 718-375-2065. You will be very happy that you did.