Back in March, Brownstoner Queens discovered initial renderings for a large mixed-use project planned at 3-50 St. Nicholas Avenue in Ridgewood, right next to the Bushwick border. Yesterday, plans were filed to build the 17-story development between Palmetto and Woodbine Streets.
The building will span nearly 180,000 square feet and reach 200 feet into the air. The first five floors will hold 89,000 square feet of commercial space, including retail on the ground floor and office space on the second through fifth floors. Medical offices will take up 3,200 square feet on the fifth floor.
Apartments will be stacked on top, beginning on the sixth story. The remaining floors will contain 129 apartments divided across 87,441 square feet of residential space, for small rental units averaging just 677 square feet each.
The cellar and second floors will hold a total of 350 parking spots. We expect it will be a commercial garage, but it still seems like an incredible amount of parking for a site that sits only a block from the L and M trains at Myrtle-Wyckoff.
Meir Babaev’s AB Capstone is developing the project alongside RJ Capital Holdings, and he’s hired Livingston, N.J.-based Jarmel Kizel Architects to design it.
He picked up the two lots at 3-50 and 3-36 St Nicholas for a combined $7,700,000 in July 2014, and spent another $1,000,000 buying development rights from 16-37 Woodbine Street and 54-31 Myrtle Avenue, according to The Real Deal, which wrote about the permits yesterday.
The property is currently home to two single-story retail buildings, and demolition applications haven’t been filed to knock them down yet.
3-50 St Nicholas is set to become one of the largest new buildings in Bushwick or Ridgewood, and it will bring new office space to a transit-rich piece of north Brooklyn. Time will tell if there’s a demand for offices in central Bushwick, but maybe it will appeal to companies who are priced out of offices in North Williamsburg’s increasingly expensive industrial zone.
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“The 129-foot-tall building will… reach 200 feet into the air.”
How?
Thanks, fixed!
These people will have a nice skyline view of Manhattan. And these parking spots will help alleviate the parking shortage in the neighborhood.
This is being co-developed with RJ Capital Holdings. Please correct!
Hi Michelle – could you email us about this? It seems like there are a couple projects. Thanks.
This project has nothing to do with RJ Capital Holdings, from our research and investigations the project is solely developed by and managed by AB Capstone. Please don’t give credit when it is not deserving
This project has nothing to do with RJ Capital Holdings, from our research and investigations the project is solely developed by and managed by AB Capstone. Please don’t give credit when it is not deserving