The Daten Group this week revealed the first renderings of a new mixed-use building in Clinton Hill, Brooklyn. Located at 540 Waverly Avenue, the property sits at the buzzing intersection of Atlantic and Waverly Avenues and is expected to break ground this Spring.
Designed by Kutnicki Bernstein Architects, the building will contain 117,000 square feet and will top-out at nine stories. When complete, the project will include 135 rental apartments, 40 of which will be reserved as affordable homes. In total, the residential component will occupy approximately 91,900 square feet. With these measurements, each unit will average just under 681 square feet.
The structure will also contain 6,000 square feet of retail and a 56-vehicle parking garage.
The Daten Group purchased the site from Verizon New York for $17.25 million in December 2019. According to the developer, Verizon will continue to operate a small office space on a portion of the property.
“This is a core project for the Daten Group as we are focused on residential developments with a strong emphasis on Brooklyn,” said Daten Group’s President David Ennis. “We just completed, a similar building [840 Fulton Street] a few blocks from 540 Waverly, and we see brisk rental activity and tremendous potential in this vibrant and growing neighborhood. We are confident this building with condo-level amenities will be well received when it comes to market in 2022.”
As confirmed by Ennis, the project is expected to be complete by 2022.
Existing structure at 540 Waverly Avenue – Google Maps
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Great news. Together with the tower going up one block to the west at Vanderbilt (where excavation has recently commenced) this will really change the face of this stretch of Atlantic Avenue, although there is a lot more potential.
Well said Adam. Clearing up of these blocks will help lift this stretch of Atlantic avenue into a great new future. Hopefully the gentrification will clear up the block across the street on the south side where a beautiful shopping arcade is badly needed to replace the car garage, car wash and other crap businesses that need to go.