An 11-story condo building may replace another one of Fourth Avenue’s auto shops. New building applications were filed this morning to erect a 118-foot-tall residential development at 243 4th Avenue, between President and Carroll Streets and just a block south of the R train stop at Union Street.
The 35,500-square-foot project will have 3,171 square feet of commercial space and a little 271-square-foot community facility on the ground floor. Residential will begin on the second floor, with 2 units each on the second through seventh stories and full-floor units on the eighth through 11th floors. The top floor apartment will get a private roof deck, and shared amenities will include a pet spa, bike storage, and children’s play room in the cellar and recreation space on the third floor.
The building will hold 16 apartments divided across 32,021 square feet of residential space, yielding spacious average units of 2,000 square feet. Given the size of the units and the fact that the Park Slope Food Co-op is only a few blocks away, condos are pretty much guaranteed.
Permits list the developer as Hosea Deitsch, doing business under an LLC, and he’s tapped the ubiquitous Karl Fischer to handle design.
Fortunately, 243 4th Avenue won’t have any parking, because the project and its lot are too small to trigger parking requirements. And this development will benefit from Fourth Avenue’s updated zoning, which requires active uses—like shops or medical offices—on the ground floor. But the new zoning came too late for the six-story brick building next door, constructed in 2002 with a dentist’s office on the first floor. The entrance to the office is on President Street, meaning that the Fourth Avenue side of the building is a solid wall with two small windows.
The development site encompasses two small auto repair shops on a 60-foot-wide lot. The two properties changed hands for a combined $9,900,000 in June, or roughly $300 per buildable square foot. Epic Commercial Realty handled the sale.
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No doubt these units will be priced for buyers/renters who already possess a car, or more than one.
Is the developer planning to market to singles and not to families?
Perhaps those who wish to keep the paid-for car(s) will just look elsewhere.
Will the units be priced for less to reflect the absence of an important amenity.
RE: TOM | September 10, 2015 at 1:29 pm | Reply
No doubt these units will be priced for buyers/renters who already possess a car, or more than one.
I HAVE DOUBT. SINCE THERE WILL BE NO PARKING!
Is the developer planning to market to singles and not to families?
WHO KNOWS? PROBABLY NOT TO CAR COLLECTORS THOUGH.
Perhaps those who wish to keep the paid-for car(s) will just look elsewhere.
AS IS THEIR PEROGATIVE!
Will the units be priced for less to reflect the absence of an important amenity.
PROBABLY!