The development boom is kicking into high gear in Downtown Brooklyn, between the nearly complete Ava DoBro at 100 Willoughby Street, the two topped out residential towers at City Point, and Two Trees’ 36-story BAM South Tower. Today we have an update on 333 Schermerhorn Street, aka The Hub, thanks to YIMBY reader and prolific photographer Tectonic.
RedSky Capital recently acquired the three-story commercial building at 585 Fulton Street, in Downtown Brooklyn, for $13 million, and now owns the entire triangular block spanning 565-591 Fulton Street and 398 Flatbush Avenue Extension (excepting the four-story building at 571 Fulton Street). The assemblage currently has 280,000 square feet of development rights, but if No. 571 is acquired, that figure would increase to 330,000 square feet, according to The Real Deal.
Adam America and Slate Property Group are in contract to acquire the connecting development sites spanning 8-16 Nevins Street and 299-301 Livingston Street, in Downtown Brooklyn, for more than $50 million. The assemblage reportedly boasts roughly 180,000 square feet in building potential. Demolition on the site’s existing low-rise buildings will continue once the transaction closes in the next few months.
The squat two-story commercial building that once filled the corner of Flatbush Avenue and Fulton Street has been completely demolished. Back in April, the Post reported that Slate Property Group and and Meadow Partners closed on the purchase of the site at 1 Flatbush Avenue for a record-breaking $59 million, and it looks like work is moving right along.
YIMBY has a rendering for 180 Concord Street, a four-story, seven-unit building designed by Issac and Stern in Downtown Brooklyn.