Loketch Group, the Joyland Group, and Meral Property Group have formed a joint venture to begin a new mixed-use project at 555 Broadway in Brooklyn. The address represents a large, wedge-shaped assemblage on the border of South Williamsburg and Broadway Triangle.
The Joyland Group and local design studio Archimaera have collaborated on proposals to construct a 26-story mixed-use hotel and office development in Brooklyn’s South Williamsburg neighborhood. The forthcoming project will take shape at 107 South Sixth Street where a four-story commercial building currently stands.
In 2014, YIMBY revealed renderings for a mixed-use redevelopment of the buildings at 119-123 Kent Avenue, in northern Williamsburg, located three blocks from the Bedford Avenue Station on the L train. Now, Commercial Observer reports CW Realty and Joyland Group have acquired the three four-story tenement buildings for $15.9 million, which measure roughly 15,000 square all together and come with 5,700 square feet of air rights. The new owners plan to combine the three buildings through the first floor and create a 5,625 square-foot retail space. It’s not known if the old proposal is being built, but the properties’ existing 18 total residential units will be renovated. Only two of them are currently occupied (and they are rent-stabilized).