Chess Builders, a New York City-based developer, has revealed renderings for a forthcoming rental property at 218 Front Street in Vinegar Hill, Brooklyn. Designed by S. Wieder Architect, the building will stand seven stories tall and will replace a single-story warehouse.
The residential component will comprise 218 apartments including 152 market-rate and 66 income-restricted, affordable housing units. The project team has not announced how deeply affordable the units will be.
Additional components include a 350-square-foot commercial space and a 180-square-foot community space. Chess Builders has also offered no information on how these spaces will be activated once the building is completed.
The rendering shows the structure clad primarily in light-colored brick surrounding an irregular window grid. Above the fifth story, the envelope is composed of floor-to-ceiling glass with dark mullions. Setbacks atop the sixth story are topped with landscaped terraces.
Existing warehouse building at 218 Front Street in Vinegar Hill, Brooklyn – Google Maps
Earlier this week, Chess Builders closed on a $135 million construction loan to complete the project. Funding was provided by Valley National Bank, a regional bank holding company headquartered in Wayne, New Jersey.
“We are excited to work with Mr. Schwimmer and his team to bring this project to fruition,” said Chris Coiley, Valley National Bank’s head of commercial real estate, speaking of Chess Builders’ founder and owner Cheskel Schwimmer. “Providing additional housing options in the desirable Vinegar Hill section of Brooklyn fits within the Valley Bank’s footprint, while working with a seasoned and knowledgeable developer is a successful combination.”
Chess Builders has not announced when the project is expected to debut.
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Pretty nice!
The top is the weakest part of the design, but it’s better than what currently is on the lot.
Going to need another horizontal mullion line at the top floors; no way you’re having floor to ceiling operable windows unless you’re paying a ton for them.