356 Fulton Street

Developer Acquired Mixed-Use Development Site At 356 Fulton Street, Downtown Brooklyn

3:00 pm on January 5, 2016 By Reid Wilson

The Feil Organization purchased the three-story, 28,000 square-foot office building at 356 Fulton Street, in Downtown Brooklyn, for $43 million just before New Year’s. The Midtown-based developer has not disclosed plans for the site, though it could accommodate a new mixed-use building with 87,000 and 104,000 square feet of residential and commercial space, respectively. The property was acquired from and was occupied by Capital One, according to The Real Deal.

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42 West Broad Street

16-Story, 249-Unit Mixed-Use Project Moves Forward At 42 West Broad Street, Mount Vernon

2:00 pm on January 5, 2016 By Reid Wilson

Alexander Development Group and The Bluestone Organization have held a ceremonial groundbreaking for their planned 16-story, 249-unit mixed-use building at 42 West Broad Street, in Mount Vernon’s Fleetwood neighborhood. The project will include 14,500 square feet of ground-floor retail space and the developer is also making upgrades to the adjacent four-level municipal parking garage. The existing single-story grocery store was vacated last year and must first be demolished, according to Westfair. The building will be located four blocks from the Fleetwood Metro-North Railroad station. Completion is expected in 2017.

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322 Gates Avenue

Six-Story, 28-Unit Mixed-Use Building Planned At 322 Gates Avenue, Bedford-Stuyvesant

1:00 pm on January 5, 2016 By Reid Wilson

Just before New Year’s, Foster Equities filed applications for a six-story, 28-unit residential building at 322 Gates Avenue, in Bedford-Stuyvesant, located six blocks south of the Bedford – Nostrand Avs. stop on the G train. According to DNAinfo, the building will measure 22,272 square feet in total and will include a 991 square-foot retail portion on the ground floor. The residential units, which will be rentals, will begin on the second floor and average 760 square feet apiece. Z Architecture is designing the project. The single-story Bedford Beer & Soda Dist. building, acquired for $4.5 million last March, was approved for demolition in the fall.

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25 Kent Avenue

ULURP Kicks Off For Nine-Story, 480,000 Square-Foot Office Building At 25 Kent Avenue, Williamsburg

11:00 am on January 5, 2016 By Reid Wilson

In the spring of 2015, Heritage Equity Partners was preparing to file for a special permit that would allow it to build a nine-story, 480,000 square-foot office building at 25 Kent Avenue, within northern Williamsburg’s manufacturing zone. Current zoning requires half the building to be community facility space, but the permit would eliminate such mandate so the entire structure can be used for office or light manufacturing space. According to Crain’s, the Department of City Planning certified the application, which means the city’s Uniform Land Use Review Procedure (ULURP) has officially begun. The building would take up an entire city block and include a public plaza. The site’s old warehouses have already been demolished. In related news, Philadelphia-based Rubenstein Partners is purchasing an undisclosed stake in the project.

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945 Bergen Street

Six-Story, 36-Unit Mixed-Use Conversion At 945 Bergen Street Lands Financing, Crown Heights

10:00 am on January 5, 2016 By Reid Wilson

Back in the summer of 2014, YIMBY reported on filings for a new eight-story, 119-unit mixed-use building at 945 Bergen Street, in northwestern Crown Heights, but those plans have since been abandoned for a more conservative project. Instead of demolishing the former Nassau Brewing Co., Crow Hill Development is planning to convert the dilapidated four- and six-story structures into a single mixed-use building measuring 71,692 square feet. The building will include 32,493 square feet of residential space for 36 units. Retail space and restaurants will be located on the ground and below-grade levels, and the remaining square footage will take on some form of manufacturing use. Commercial Observer reports an $18 million construction loan was recently secured, and completion is expected in early 2017. Formactiv Architecture is designing.

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