CW Realty recently dropped $20 million to acquire a controversial parcel in Vinegar Hill, Brooklyn, where previous owners failed to win approvals for development. Located at 251 Front Street, also referred to as 68 Gold Street, the site currently supports a large parking lot that would be redeveloped to support a five-story building with 59 rental units.
Renderings for the new property are attributed to local architect Arye Jungreis, founder of The J Associates. Compared to previous renderings from Think Architecture and Design, the newly proposed structure features a ground-up brick façade, large industrial-style windows, and metal pin signage at the ground floor.
If approved, the structure would comprise just under 40,000 square feet with each unit measuring around 678 square feet.
The site was previously owned by Tocci Brothers, which originally planned to construct a nine-story, 95-unit building including 23 below market-rate units. While the project received approvals from the Department of City Planning, local officials fiercely opposed the proposal. Tocci Brothers later scaled down the project from 95 to 72 units, but were unable to win support from the officials and eventually scrapped the project.
While it’s too early to tell if local officials will better favor CW Realty’s iteration of the development, the structure illustrated in the new renderings more closely resembles existing buildings in the surrounding neighborhood.