YIMBY Today: 5Pointz Demolition, Boerum Hill Price Record, and More

5Pointz5 Pointz in its heyday, which the Wolkoffs generously allowed to be used as a canvas for aerosol artists for years at rents far below market

22-44 Jackson Avenue [DNAinfo NY]: Developer Jerry Wolkoff, of G&M Realty, plans to start full-scale demolition of the dilapidated warehouse dubbed 5Pointz — at 22-44 Jackson Avenue, in Long Island City — around mid-August. Demolition permits have already approved, and crews have been clearing out the interior; two residential towers of 41 and 47 stories will replace the existing structure.

472 Atlantic Avenue [Commercial Observer]: Brokered by Massey Knakal, a “local developer” has purchased a one-story retail structure — at 472-484 Atlantic Avenue, in Boerum Hill — for $18 million, setting a record for price per buildable square-foot. The buyer “plans to build a mixed-use condominium with ground-floor retail,” and the site holds 48,300 square-feet of development potential.

24 2nd Avenue [The Real Deal]: The gas station and repair shop at 24 2nd Avenue — in the East Village — has recently traded hand for $32 million; the buyer remains anonymous. Rumors call for a “boutique hotel” to rise on-site, but permits to demolish the existing structures have yet to be filed.

930 Flushing Avenue [Brownstoner]: Suspected to be a deed transfer, a 6.4-acre “collection of nearly 50 commercial properties” in Bushwick  has been sold for $11.25 million to RP Acquisitions. Read Property plans to develop the formerly industrial plots into nearly 1,000 apartments spread over 10 buildings.

98 Degraw Street [Brownstoner]: A buyer has snatched up vacant lots of 96-98 Degraw Street — at the edge of Carroll Gardens — for $2.1 million, according to the deal’s agent. In 2012, plans to construct two, three-story houses on-site were disapproved.

South Street Seaport Redevelopment [Curbed]: Demolition of the structure atop Pier 17 in the Financial District is now complete, and “construction of the new pier will commence this October.” Test pile-driving is already underway; opening of the new pier is scheduled for 2016.

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