Brooklyn

41-53 South 3rd Street

Flank Acquires Mixed-Use Development Assemblage at 41-53 South 3rd Street, Williamsburg

1:00 pm on April 6, 2016 By Reid Wilson

Chelsea-based development and design firm Flank has closed on the purchase of the development assemblage at 41-53 South 3rd Street and 60 South 2nd Street, in Williamsburg, located two blocks in from the East River, for $36.2 million. The assemblage consists of a mix of single-story commercial-retail properties and vacant lots, according to The Real Deal. The plot could accommodate nearly 80,000 square feet of mixed-use development if the existing buildings are demolished. The developer is currently considering building a project with residential units, although plans won’t move forward until the existing tenants finish their respective leases, which expire between 2018 and 2023.

1623 40th Street

Three-Story, Three-Unit Residential Project Planned at 1623 40th Street, Borough Park

4:00 pm on April 5, 2016 By Reid Wilson

Property owner Iskowitz Ernest has filed applications for a three-story, three-unit residential building at 1623 40th Street, in eastern Borough Park, located two blocks from the Ditmas Avenue stop on the F train. The new structure will encompass 7,616 square feet and its residential units should average a very spacious 1,904 square feet apiece, indicative of family-sized condominiums. There will be one apartment per floor and the project will be topped by an open roof terrace. Hudson Valley-based Thomas Kenneth is the applicant of record. The triangular 3,174-square-foot corner lot is currently vacant.

1 Flatbush Avenue

Excavation Begins on 19-Story, 157-Unit Mixed-Use Project at 1 Flatbush Avenue, Downtown Brooklyn

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

During the summer of 2015, YIMBY reported that demolition was competed on the two-story commercial building at 1 Flatbush Avenue, in Downtown Brooklyn. Now, excavation is underway for the planned 19-story, 157-unit mixed-use building replacing it, as seen in photos by Tectonic. The new structure will encompass roughly 170,000 square feet, 24,500 square feet of which will be used for retail space across the cellar through second floors. The rental apartments should average 793 square feet apiece, and 32 of them will rent at below market-rates through the housing lottery. Amenities include storage space for 79 bikes in the cellar, a fitness center, followed by entertainment lounges/recreation rooms, a library, a yoga room, all located on the third floor, and a rooftop terrace. Developers Slate Property Group and Meadow Partners landed a $110 million construction loan earlier this year. Goldstein, Hill & West Architects is behind the design. Completion is expected in 2017.

98 Thatford Avenue

Four-Story, Six-Unit Mixed-Use Building Filed At 98 Thatford Avenue, Brownsville

3:00 pm on April 4, 2016 By Reid Wilson

Maspeth-based Aasrah Holdings Corp. has filed applications for a four-story, six-unit mixed-use building at 98 Thatford Avenue, in Brownsville, located 10 blocks south of the Rockaway Avenue Station on the A/C trains. The new structure will measure 8,500 square feet and will include 2,000 square feet of ground-floor retail space. Two per floor, the residential units begin on the second floor and should average 750 square feet apiece, indicative of rental apartments. Akeeb Shekoni’s Jamaica-based Askon Architects is the architect of record. The 25-foot-wide, 2,502-square-foot lot is currently vacant.

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