An investment group has acquired, for $76.5 million, Brooklyn Law School’s four-story, 40,000-square-foot office building at One Boerum Place, located on the corner of Fulton Street in Downtown Brooklyn. The group includes Avery Hall Investments, Allegra Holdings, and Aria Development Group, the Wall Street Journal reported. Although plans are not final, the development team expects to build a 160,000-square-foot mixed-use tower at the site. The project would include residential units and commercial space, possibly in the form of retail and/or offices. Demolition permits have not been filed for the 13,290-square-foot site’s current building, although groundbreaking is expected sometime next year.
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The current building is not old. I remember the Kings County Savings & Loan there.
Although and although on the details like this, but it is development in piece of different situation.
This is a very conspicuous location and any new structure will have an outsized impact on the livability of Downtown Brooklyn. Hopefully, this hideous old structure will be replaced by something pedestrian friendly and engaging and which serves the community in some way. Is there any process for community input?
I hope they reconsider going residential on this site, and go all office instead. It would be a big mistake. Who would want to live in the corner of adams & fulton street?. The worst air & noise pollution in Brooklyn. From what I recall in the 2006 rezoning plan, this site was to be combined with the site across the street for a huge office tower, eliminating Red Hook Lane along the way. Politicians and real estate moguls like to point to the 2006 rezoning as a success.(a succes for them). A loss for everyone else. In my opinion, it has been a catastrophe for the surrounding neighborhoods, Brooklyn, and NYC as a whole. Downtown Brooklyn is now neither a good place to have a business. work or live. Have all these thousands of new residential towers actually brought down rent prices in the area?? This is a good lesson for other areas in the city like Red Hook, Guwanus. When the politicians and developers come and say hello, you say Hell no!. Realestaters+politicians= Rip-off