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By Accord Real Estate Group

Brooklyn's Windsor Terrace Neighborhood – New Development Update

July 30th 2023
Tags: All about Brooklyn New York, Brooklyn Real Estate

Two new residential projects are tasking shape in Brooklyn's wonderful Windsor Terrace neighborhood near the fabulous Prospect Park.

11 Ocean Parkway, a 395,000 square foot, 13 story residential building has been designed by FXCollaborative and developed by JEMB realty. The building will have 375 rental units with an average of 798 square feet, 5,200 square feet of retail space, 18,800 square feet for a church, a cellar level and 106 enclosed parking spaces. Pavarini McGovern is the general contractor on the property.

11 Ocean Parkway is at the southwestern corner of Prospect park and bound by Ocean Parkway, Coney Island Avenue and Caton Place.

11 Ocean Parkway will feature an innovative mechanical system consisting of compact console heating and cooling equipment integrated into the facade. The system is designed for greater efficiency than typical wall through configuration and doesn't require space for outdoor units or extensive copper refrigerant piping.

The nearest subway station is the Fort Hamilton Parkway station to the west where the F and G trains stop.

Anticipated completion is August 2024.

The 2nd Windsor Terrace project of note is 57 Caton Place, a 130,569 square foot, nine story residential building. The building will have 131 apartments with 14 studios, 55 one bedrooms, 57 two bedrooms, 5 three bedroom units 12,900 square feet of retail space and 74 below grade parking spaces. The project was designed by Gene Kaufman Architect and developed by an Aview affiliate. Jun's construction is the general contractor. 57 Caton Place is bound by Ocean Parkway to the north and Caton Place to the south.

The residential program for the building includes 98 market rent units and 33 reserved for affordable housing. Ammenities will include Co working space, a fitness center, a game room and an outdoor rooftop deck.

The closest subway is the Fort Hamilton Parkway station to the west across Prospect Expressway to get the F and G trains.

Financing for the project ($66M construction loan) was provided by Parkview Financial.

Anticipated completion is January 2024.

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

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