The Bushwick-Bed-Stuy borderlands are the final frontier for cheap rents and inexpensive development in both neighborhoods, and today we have a rendering for a project at 1004 Gates Avenue in Ocean Hill, courtesy of prolific Brooklyn developer The Loketch Group.
Much like the firm’s Williamsburg project, this will technically be an expansion of two old tenements instead of completely new construction. The pastel-colored buildings will double in size, growing from 9,066 to 20,141 square feet of residential space. They’ll also expand from four stories to seven, raising the roof line from 42 to 74 feet.
The two prewar buildings will lose their ground floor retail, but the expansion will bring the number of apartments from five up to 27. The apartments will be rentals, averaging 745 square feet each. Each floor will have four units, except for the seventh, which will have three units. The building will also get a roof deck and bike parking in the cellar.
Moishe Loketch tells us he’s transferring air rights from an adjacent property at 829 Monroe Street to give the project a boost in residential space. And he plans to use some left over development rights to add four more apartments to a two-family row house at 825 Monroe Street.
Julien Flander applied for the permits, but South Williamsburg-based Ellipses Design is responsible for the rendering.
The Loketch Group bought the four properties on Gates Avenue and Monroe Street for a combined $1,765,724 in 2013.
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