Construction Update: 564 St. Johns Place, Crown Heights
Heritage Equity Partners and Rabsky Group’s big residential development is finally rising at 564 St. Johns Place, between Franklin and Classon Avenues in Crown Heights.
Heritage Equity Partners and Rabsky Group’s big residential development is finally rising at 564 St. Johns Place, between Franklin and Classon Avenues in Crown Heights.
Property owner Simon Lichtenstien has filed applications for a four-story residential development on a sliver of land at 800-830 Empire Boulevard, on the border of Crown Heights and East Flatbush. Located six blocks south of the Utica Avenue stop on the 3, 4 and 5 trains, the project will total 36 residential units across 21,339 square feet. Units will average a very small 593 square feet apiece, and will technically be broken up into two buildings, with 16 and 20 units, respectively. Rego Park-based Grigori Zinkevitch is the architect of record, and a single-story structure must first be demolished.
PWR Holdings has placed the development site at 111 Montgomery Street, in western Crown Heights, on the market with an asking price in the mid-$40 million, according to Commercial Observer. The 22,000 square-foot site boasts 168,000 square feet of development rights. New building applications were filed to build a 12-story, 173-unit apartment building on the property in March.
As rent-stabilized tenants at two Crown Heights apartment buildings fight to keep their rents from doubling, another landlord in the neighborhood plans to expand a four-story residential building at 961 Washington Avenue to 11 stories.
Last month, applications were filed for a four-story, 10-unit residential building at 1266 Pacific Street, in northwestern Crown Heights. Shortly after, the vacant site was placed on the market, and in less than 48 hours later, EPIC Commercial Realty entered contract on the 2,861 square-foot property for $1.25 million, DNAinfo reports. The building on file will measure nearly 8,500 square feet, with individual units averaging 850 square feet, and Rego Park-based Diego Aguilera filed for the permits.