What's happening in your backyard? YIMBY News delivers the day's top five new development stories to your inbox every weekday morning.


What's happening in your backyard? YIMBY News delivers the day's top five new development stories to your inbox every weekday morning.


Downtown Brooklyn

286 Ashland Place

Construction Update: 286 Ashland Place, aka BAM South, 32-Story Mixed-Use Project

While the Downtown Brooklyn construction boom’s biggest impact will be the addition of residential space, its effects on the streetscape are also going to be significant, and few projects will be more significant to the pedestrian experience than 286 Ashland Place. The building, which is being designed by TEN Arquitectos and developed by Two Trees, will soon stand 32 stories tall, but its significant presence at the street level is already becoming apparent, per the latest photos from Tectonic.

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141 Willoughby Street

44-Story, 270-Unit Mixed-Use Building Proposed At 141 Willoughby Street, Downtown Brooklyn

Savanna has filed applications for a variance to build a 44-story, 310,000 square-foot mixed-use building at 141 Willoughby Street, in Downtown Brooklyn. In exchange for the rezoning, 30 percent of the building’s 270 residential units would be set aside as affordable. At the base, 28,000 square feet of retail space would span the ground and second floors, in addition to 34,000 square feet of office space on the third and fourth floors, according to The Real Deal. An existing three-story building must first be demolished.

215 Schermerhorn Street

GPB Realty Capital To Acquire Development Site At 215 Schermerhorn Street, Downtown Brooklyn

Earlier this spring, the development site at 211-215 Schermerhorn Street, in Downtown Brooklyn, was placed on the market for $30 million, and now GPB Realty Capital is in contract to purchase the property. Neither the price nor the future plans have been disclosed, although a 75,000 square-foot residential or hotel building could be built. TerraCRG brokered the property, and the lots are currently vacant, according to The Real Deal.

422 Fulton Street

Tishman Acquires 11 Hoyt Street Site, Part of Macy’s 422 Fulton Street Building, Downtown Brooklyn

Macy’s is about to sell five stories of their nine-story building at 422 Fulton Street and the parking garage at 11 Hoyt Street (aka 217 Livingston Street) to Tishman Speyer for $170 million, according to Crain’s. Macy’s will consolidate commercial operations to 310,000 square feet, spanning the basement to the fourth floor, and Tishman will fund extensive renovations for those floor. As for the five upper floors Tishman is purchasing, those will be converted to office space and five more floors will be added up top. In the end, 10 stories of integrated office space is planned.

340 Flatbush Ave Extension

Dime Bank Acquisition Pushes Plans At 340 Flatbush Ave Extension Past 1000′ Mark, DoBro

Michael Stern’s JDS Development, partnered with Chetrit Group, is planning to acquire the landmarked Dime Savings Bank building at 9 Dekalb Avenue, in Downtown Brooklyn, for $90 million, according to Crain’s. The building could be converted to accommodate retail, but roughly 300,000 square feet of unused air rights can now be transferred to the team’s site at 340 Flatbush Avenue Extension.