Bushwick has rebounded from decades of abandonment and disinvestment, and developers now flock to a corner of the neighborhood dotted with vacant lots: the Myrtle-Wyckoff stop on the L and M trains. And today, YIMBY has a look at a little five-story rental project under construction at 359 Linden Street, between Wyckoff and Myrtle Avenues.
This development has been in the works since 2007, when the first round of permits were filed. The previous owner put in foundations before the recession hit and derailed construction. After ripping out the old foundation, the current developer broke ground on the 4,000-square-foot site last week.
The 47-foot-tall building will have 13 apartments spread across 8,800 square feet, with average units of just 676 square feet. Every story will host three apartments, except for the fifth, which will be a full-floor penthouse. A setback will create a shared roof terrace, and a few units in the back of the building will have balconies. The development will use mini-splits for heating and cooling, which offer a more attractive and energy-efficient option than PTACs.
359 Linden has just enough units to trigger parking requirements, and it will have room for seven cars, with four off-street spaces on the ground floor and three more in the cellar. The zoning code calls for this much parking, even though this property sits half a block away from the subway station and the elevated train tracks. The garage, and the lack of commercial zoning for this particular lot, explains the building’s uninviting ground floor.
Midtown East-based MKF Realty is the developer, and Boro Architects handled the design.
MKF bought the 40-foot-wide vacant lot for $1,530,000 in June 2014. And it actually sold for more in 2007, changing hands for $1,950,000, or $200 per buildable square foot.
And Jamaica-based builder AB Capstone recently filed plans for a 17-story office and residential tower at 3-50 St Nicholas Avenue, a few blocks northeast of here, just over the Queens border in Ridgewood.