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

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

Subscribe!

Downtown Brooklyn

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.


250 Ashland Place, photo by

Construction Update: 250 Ashland Place, Downtown Brooklyn

Last week, YIMBY brought you an update on 333 Schermerhorn Street, and now we’ve got a look at 250 Ashland Place, a BAM Cultural District tower rising fast next to the newly built, modernist Theater for a New Audience in Downtown Brooklyn. YIMBY reader Tectonic has been keeping a close watch on all the Downtown towers, and sent along these shots of the construction progress.

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565 Fulton Street

Development Site Assembled At Fulton Street & Flatbush Avenue, Downtown Brooklyn

RedSky Capital recently acquired the three-story commercial building at 585 Fulton Street, in Downtown Brooklyn, for $13 million, and now owns the entire triangular block spanning 565-591 Fulton Street and 398 Flatbush Avenue Extension (excepting the four-story building at 571 Fulton Street). The assemblage currently has 280,000 square feet of development rights, but if No. 571 is acquired, that figure would increase to 330,000 square feet, according to The Real Deal.


8-16 Nevins Street

Developers To Purchase Assemblage At 8-16 Nevins & 299 Livington Streets, Downtown Brooklyn

Adam America and Slate Property Group are in contract to acquire the connecting development sites spanning 8-16 Nevins Street and 299-301 Livingston Street, in Downtown Brooklyn, for more than $50 million. The assemblage reportedly boasts roughly 180,000 square feet in building potential. Demolition on the site’s existing low-rise buildings will continue once the transaction closes in the next few months.


One Flatbush Avenue, rendering by Goldstein, Hill and West Architects

Demolition Update: 1 Flatbush Avenue, Downtown Brooklyn

The squat two-story commercial building that once filled the corner of Flatbush Avenue and Fulton Street has been completely demolished. Back in April, the Post reported that Slate Property Group and and Meadow Partners closed on the purchase of the site at 1 Flatbush Avenue for a record-breaking $59 million, and it looks like work is moving right along.

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