Uncertainty over the future of an important tax exemption for residential construction, 421-a, is forcing developers in the outer boroughs to focus on building office and retail space. The latest example comes to us from East Williamsburg, where the Loketch Group aims to put up a six-story office and medical building.
Brooklyn-based Josef Perlstein, doing business as an anonymous LLC, has filed applications for a five-story, 10-unit residential building at 98 Martin Luther King Jr. Place, in northern Bedford-Stuyvesant, located two blocks from the Myrtle – Willoughby Avenues stop on the G train. The structure will encompass 10,733 square feet and its residential units will average 750 square feet apiece, indicative of rental apartments. There will be two apartments on each floor. Charles Mallea’s Brooklyn-based M Architecture is the architect of record. The 25-foot-wide lot is currently vacant.
Another day, another new development headed for central Bushwick. Yesterday’s crop of filings brought applications for a five-story apartment building at 1351 DeKalb Avenue, just north of elevated M train tracks that run along Myrtle Avenue.
Lazer Waldman, doing business as an anonymous LLC, has filed applications for a five-story, 24-unit residential building at 73 Starr Street, in western Bushwick, located five blocks from the Central Avenue stop on the M train. The project will encompass 23,240 square feet of space and will have 16,279 square feet of residential space. That means unit will average a rental-sized 678 square feet apiece. Charles Mallea’s Brooklyn-based M Architecture is the architect of record. Multiple single-story warehouses must first be demolished.
Jack Rothenberg, doing business as a Brooklyn-based LLC, has filed applications for a four-story, 10-unit residential building at 1479 Greene Avenue, in northern Bushwick, located four or five blocks from stops on either the M or L trains. While the project will measure 11,657 square feet in its entirety, 8,673 square feet will be used as residential space, which means units will average 867 square feet apiece. The building will feature a fifth-floor penthouse, which will be part of a duplex unit located on the fourth floor. Charles Mallea’s Brooklyn-based M Architecture is the applicant of record. The plot of land includes a vacant parcel and a two-story wood-framed house, which must first be demolished.