As rising rents and development pressure reach deep into Bushwick, the normal trajectory is to follow the L train on the neighborhood’s north side, where demand is highest.
But as Bushwick becomes increasingly gentrified, tenants and builders are having to dig deeper into the neighborhood to find affordable housing, and the J train – which stretches down Broadway and serves the southern edge of the neighborhood – is often where those deals are.
And so we find a permit for a new three-unit residential building at 992 Madison Street, between the Gates Avenue and Halsey Street J stops. While a three-family structure wouldn’t normally be remarkable, this one stands out for its size: the application is for a building with three stories plus a penthouse (reaching 45 feet at its peak) and 7,119 square feet of residential space, yielding apartment sizes more commonly found in luxury condo projects in Manhattan or Hasidic buildings in and around South Williamsburg and Borough Park. (We aren’t sure if 992 Madison will be condos or rentals.)
The developer is South Williamsburg-based Yoel Schwartz, whose Blackdiam Properties picked up the 37-foot parcel, including a three-unit building and an adjacent empty lot, last year for $790,000. Michael Avramides, whose practice has designed several affordable housing projects, filed for the permit.
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