67-Unit Market-Rate Development Planned for New Lots, in East New York

New Lots development (empty lots at center), image from Bing MapsNew Lots development (empty lots at center), image from Bing Maps

In the New Lots subsection of East New York, plans have been filed to construct a series of four-story apartment buildings with a total of 67 apartments. If built, the project would hold some of the most affordable newly built market-rate apartments in the city – a dying breed of development, but one which ought to be encouraged if the city is ever to tackle its affordability challenge.

The apartments would be spread over a number of different lots on the blocks just to the south of Linden Boulevard and to the east of the Canarsie Line L tracks, near the border with Brownsville and Canarsie. The buildings would have the addresses of 745 and 749 Snediker Avenue; 736, 740, and 742 Hinsdale Street; and 375, 379, and 383 De Witt Avenue. The 67 apartments would be spread over 46,000 square feet of space, for an average unit size of a bit under 700 square feet.

Borough Park-based Henry Ausch is listed as the developer, and Karl Fischer as the architect.

While the filing hints at the revival of the market-rate development fortunes of East New York, it may not herald the return of the type of development necessary to make 80/20-like buildings pencil out – the type of market-rate development that the administration envisions for the rezoned parts of East New York and Ocean Hill.

The New Lots builders are four-story masonry structures without parking and with less than a dozen units each – far cheaper to build and easier to finance than 80/20 buildings, which are larger, steel-frame mid-rise structures with parking (the administration’s parking reform unveiled last month would not be available to the market-rate portion of mixed-income buildings without a discretionary waiver).

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