Meadow Partners has acquired, for $54 million, the six-story, 124,000-square-foot commercial building at 57 Willoughby Street, located at the corner of Lawrence Street in Downtown Brooklyn. The new owner plans to renovate the property, which includes rebuilding the 9,450-square-foot ground-floor retail space and modernizing the office space on the floors above, Real Estate Weekly reported. The property also contains 96,000 square feet of air rights, The Real Deal first reported. A $50.2 million acquisition loan was secured for the purchase.
Construction is now nine floors above street level on the 19-story, 183-unit mixed-use building under development at 1 Flatbush Avenue, located on the corner of Fulton Street in Downtown Brooklyn. Progress can be seen thanks to photos posted to the YIMBY Forums by Tectonic. The latest building permits indicate the project will encompass 133,936 square feet and rise 206 feet to its main roof, not including bulkhead elements.
Façade installation is now underway on the upper floors of the 32-story, 440-unit mixed-use tower under development at 86 Fleet Place, located on the corner of Myrtle Avenue in Downtown Brooklyn. Progress on the structure, which topped out in October, can be seen thanks to photos posted to the YIMBY Forums. The latest building permits have the tower measuring 427,346 square feet and standing 384 feet to its pinnacle.
Construction is now underway on the seventh floor of the 12-story, 123-unit mixed-use building under development at 15 Lafayette Avenue, located on the corner of Ashland Place in Downtown Brooklyn. Progress can be seen thanks to photos posted to the YIMBY Forums by Tectonic. The latest building permits state the project will measure 120,093 square feet and rise 138 feet to its main roof, not including the bulkhead.
An investment group has acquired, for $76.5 million, Brooklyn Law School’s four-story, 40,000-square-foot office building at One Boerum Place, located on the corner of Fulton Street in Downtown Brooklyn. The group includes Avery Hall Investments, Allegra Holdings, and Aria Development Group, the Wall Street Journal reported. Although plans are not final, the development team expects to build a 160,000-square-foot mixed-use tower at the site. The project would include residential units and commercial space, possibly in the form of retail and/or offices. Demolition permits have not been filed for the 13,290-square-foot site’s current building, although groundbreaking is expected sometime next year.