The City wants to replace an outdated “eyesore” office building with approximately 1,200 residential units.
The (HPD) Department of Housing Preservation and Development has its sights set on rezoning 395 Flatbush Avenue Extension to allow for a new skyscraper. The proposed tower will be the second tallest in Brooklyn after the Brooklyn Tower, located in Downtown Brooklyn at 85 Fleet Street, between Fleet Street and Flatbush Avenue and Flatbush Avenue Extension.
The proposed building would be 840 feet tall and include approximately 1,230,000 gross square feet of residential space, 210,000 square feet of office, retail and community space.
The current plan has 1,263 apartments and between 353 and 379 units designated for affordable housing for those earning at or below 80% of the area median income. TenBerke Architects have put forth a conceptual proposal for pedestrian space at 395 Flatbush, Brooklyn NY. The project includes a new public open plaza along Fulton Street, wider sidewalks, an enhanced pedestrian experience along Flatbush and DeKalb Avenues, with more trees, landscape and seating. In addition, the entrance to the Dekalb subway station will be improved.
Rabina and Park Tower Group control the existing site through a long term ground lease with the city.
According to Joseph Rabina, President and CEO of Rabina “Replacing the dark and outdated office building at the corner of Fulton Street and Flatbush Avenue with a light and airy mixed use development that includes more than 1,200 mixed income apartments will breathe new life into one of the most important intersections in Downtown Brooklyn.”
The developers will apply for the 485X property tax incentive, which would help, because of the projects size and location would require the developer to pay higher wages to construction workers under the program's rules.
This project would be amongst the first to take advantage of the recently lifted cap on residential density under Mayor Eric Adams City of Yes plan. New district designations now allow rezonings with higher FARs. The proposed tower would have an FAR of 21.8.
According to Mayor Adams “The new 395 Flatbush Avenue will be a major addition to the skyline, towering high as the second tallest building in Brooklyn.” “We're setting a new standard of urban design and development in the heart of New York's most prosperous and populous borough. This is exactly the type of public – private partnership we want with the development community to build more housing.”
Go City of Yes!
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