Permits Filed: 924 Myrtle Avenue, Bed-Stuy

924 Myrtle Avenue, image via Google Maps924 Myrtle Avenue, image via Google Maps

In March of last year, Cornell Realty filed plans for a 10-story apartment building at 924 Myrtle Avenue, in northern Bed-Stuy, across the street from New York City Housing Authority’s Tompkins Houses. Now, a new developer appears to be in charge, and applications have been filed for a much smaller project.

The new development would reach seven stories into the air between Throop and Tompkins avenues. The square footage has also been halved, from 34,700 square feet in last year’s plans, to 16,367 square feet in last week’s filing. The building would have 23 apartments spread across 15,570 square feet of residential space, for a little average unit measuring 676 square feet. Rentals seem pretty likely. There would also be an 800-square-foot retail space on the ground floor.

Each floor would have two to four units, and three apartments on the upper floors would be duplexes. The project would also include a shared roof deck and bike storage in the cellar.

Last year’s version of the project would have included affordable units, and the developers clearly expected to benefit from the 421-a tax abatement. Since they were not able to secure approval from the Department of Buildings before the tax break disappeared in January, the new development will be smaller and market-rate. (Including below-market units is a financial stretch when the developer has to pay full taxes on the property.)

Frontgate Management, which is based nearby on Myrtle Avenue, took over the property for an undisclosed amount in June. Boaz Golani’s Beam Group will design the project, working from offices a few blocks away on Taaffe Place.

Subscribe to the YIMBY newsletter for weekly updates on New York’s top projects

Subscribe to YIMBY’s daily e-mail

Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews

TFC Horizon
.

1 Comment on "Permits Filed: 924 Myrtle Avenue, Bed-Stuy"

  1. That’s right..business and money with construction, floors or spaces tumbled out of market.

Comments are closed.