East Flatbush is the final frontier for developers who want to build in central Brooklyn and can’t afford to buy in Crown Heights, at least until the rental market picks up a couple train stops away in East New York. Today, we have a look at a new development coming there to 533 Albany Avenue, between East New York Avenue and Maple Street.
Hong Kong-based Gemini Investments is in contract to acquire the single-story, 14,000-square-foot commercial building at 531-537 Sixth Avenue and the four-story mixed-use building at 539 Sixth Avenue, in southern Chelsea. The investment firm is paying $53 million for the assemblage, according to The Real Deal. The properties are located at the corner of West 14th Street, and if both existing buildings are demolished, the site can accommodate up to 60,566 square feet of mixed-use development. The single-story building is currently vacant, although the four-story mixed-use building is occupied by a retail tenant and a few residential units. Plans for the site have not been disclosed. Neither demolition permits nor new buildings applications have yet been filed.
Property owner Balwinder Singh has filed applications for a four-story, six-unit mixed-use building at 144-32 Liberty Avenue, in western Jamaica, located eight blocks south of the Jamaica station on the Long Island Rail Road. The structure will measure 6,289 square feet and will include 1,617 square feet of retail space on the ground floor. The residential units should average 779 square feet apiece, indicative of rental apartments. Nasir J. Khanzada’s Queens-based company is the applicant of record. The 25-foot-wide, 2,154-square-foot lot, at the corner of Inwood Street, has long been vacant. Its last occupant was a single-story structure, which was internally demolished in 1991.
Back in December of 2015, foundation work was reportedly underway for the eight-story, 134-unit mixed-use building at 2351 Adam Clayton Powell Jr. Boulevard, located between West 137th and 138th streets in northern Harlem. Now, construction on the structure is is three stories above street level, Harlem+Bespoke reported. The project, dubbed The Renny, will encompass 198,497 square feet. It will include 17,879 square feet of ground-floor retail space, in addition to 22,327 square feet of space for a religious facility across portions of the cellar through fifth floors. The residential units, located on the third through eighth floors, should average 860 square feet apiece. They will be rentals, and 27 will rent at below-market rates. Amenities include private residential storage, an 67-car underground garage, space for 70 bikes, private residential storage, laundry facilities, a fitness center, an outdoor terrace on the second floor, and a rooftop terrace. BRP Companies is the developer, while GF55 Partners is behind the design. Completion is expected in 2017.
Back in February of 2015, YIMBY revealed updated renderings of the 30-story, 225-unit mixed-use building under development at 509 West 38th Street, in the Hudson Yards District, located four blocks north of the 34th Street-Hudson Yards stop on the 7 train. Construction kicked off last fall and the structure has since risen to roughly the 22nd floor, as seen in photos by Tectonic. The latest building permits indicate the tower will measure 243,689 square feet. It will include 13,739 square feet of retail space across the ground and second floors, and 29,180 square feet of community space for a non-profit on the ground through fifth floors. The units, which will be rental apartments, should average 786 square feet apiece, of which 46 will rent at below-market rates. Amenities listed on the Schedule A include laundry facilities, bike storage space, and a fitness center. Imperial Companies is the developer, while BKSK Architects is behind the design. Completion is expected in early 2017.
