Adam America is already one of Brooklyn’s most prolific developers, with projects in the works from Williamsburg to Park Slope. And now we can add another to the list: 577 Baltic Street, a 28-unit rental project under development in Boerum Hill between Third and Fourth avenues, near the border with Park Slope and a short walk away from Brooklyn’s busiest transit hub, at Atlantic Avenue-Barclays Center. YIMBY first reported on the project in October, when applications were initially filed under an anonymous LLC.
Issac & Stern, prolific architects of buildings through Brooklyn, are designing 577 Baltic, which will have seven stories of apartments with a modern façade and a fairly engaging ground floor, in spite of the parking requirements (they had to shoehorn 14 spots onto the lot) and lack of allowed ground-floor retail.
The 28 units will be divided over 19,000 square feet of space, with fairly small apartments on the second through sixth floors – five or six each – along with one unit on the ground level and two penthouse residences on the seventh floor.
The building is actually Adam America’s second on this block, with another larger rental project under development at No. 595, which has a louder design by Nataliya Donskoy’s ND Architecture.
Adam America closed on the land beneath 577 Baltic in June of 2014, paying $1.2 million for the parcel, or a paltry $65 per square foot – clearly a deal that was hammered out long ago, when land values were much lower and rentals still penciled out.
The demolition permit for the existing single-story structure at 577 Baltic was filed for in October, along with the new building permit, which is still pending review. Construction is expected to wrap up in 2016.
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