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By Accord Real Estate Group

Brooklyn Real Estate – East New York Development Update

February 2nd 2017
Tags: Real Estate News, All about Brooklyn New York

Realtors in Brooklyn and Real Estate Companies in Brooklyn have seen the results of the city rezoning sections of different neighborhoods. For example, Downtown Brooklyn. The last several years have seen a historic level of development of residential and commercial buildings in the neighborhood.

Last year we blogged aboutThe City Planning Commission’s approval of the rezoning of a large section of East New York. As a result, the price of properties has risen dramatically and commercial and residential developers have been acquiring sites to build on.

Phipps Houses, one of the city’s most established developers of affordable housing paid $38M in 2015 for 3301 Atlantic Avenue, a 300,000 square foot site.

Phipps houses is planning for 1,200 apartments to be built on this site. The first part of this project will be a 14 story building of 377,000 square feet with 403 units of affordable housing. Also planned is 20,977 square feet of commercial space with plans for 3 retail stores.

Dattner architects, New York City based company, is the architect of record on the project. 

If you are planning to sell your Brooklyn, Manhattan or Queens  property, whether it is a residential property, a commercial building, mixed use, multi family, vacant land, coop or condominium or a development opportunity, call us. You will be very happy that you did.

Thank you.

Accord Real Estate Group