Brooklynites fear that Brownsville will be next on the gentrification train, but those fears have yet to become a reality. Still, investors are taking a hard look at the neighborhood, which is only a train stop away from increasingly pricey Crown Heights and Bushwick.
Last week, plans were filed for five-story apartment building at 255 Grafton Street, between Dumont and Livonia Avenues. The project would have 10 apartments, which appear to be market-rate. They’d be divided across 8,639 square feet of residential space, creating typical units measuring 863 square feet.
The developer is Borough Park-based B&H Management, and Great Neck-based Icon Engineering applied for the permits.
Two units would occupy each of the first three floors, and then the fourth floor would have four units, three of which would be duplexes.
This seems like an excellent location for new development, because the Saratoga Avenue 3 train stop is a block away. And a few blocks east, Betsy Head Park offers a rec center, pool, playground, basketball courts, and a running track.
B&H picked up the vacant lot on Grafton Street for $615,000 in May, paying $71 for each square foot of their planned building.
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A road close the location it is suitable, market-rate close paying it is suitable too. (business and property)