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.
The Stagg Group has filed applications for a 13-story, 163-unit mixed-use building at 150 Van Cortlandt Avenue East, located on the corner of St. George Crescent in the West Bronx’s Bedford Park section. The project will encompass 149,580 square feet and will include 5,135 square feet of community facility space on the basement level. The first through 13th floors will contain residential units averaging 791 square feet apiece, indicative of rentals. Marin Architects is the architect of record, The Real Deal reported. The 17,907-square-foot site is occupied by a single-story commercial structure. Permits state that demolition began in October.
The Cedarhurst, N.Y.-based Responsive Group has filed applications for two four-story, 10-unit residential buildings at 1690-1692 Pacific Street, in eastern Crown Heights. The structures, which will also feature penthouse levels above the fourth floor, will measure 8,583 square feet each. Across both, the residential units should average 676 square feet apiece, indicative of rentals. Brooklyn-based KMP Design & Engineering is the architect of record. The 6,144-square-foot plot is occupied by a single-story warehouse. Demolition permits have not been filed.
Brooklyn-based Valgar Realty has filed applications for a four-story, 7,965-square-foot community facility at 2550 East 17th Street, on the southern end of Sheepshead Bay. The four above-grade floors, plus the cellar, will be occupied by a trade school. Brooklyn-based Corporate Design of America is the architect of record. The 40-foot-wide, 2,645-square-foot property is occupied by a two-story house, although demolition permits have not been filed. Partial plans were submitted earlier this year for a slightly smaller three-story building that would have included commercial and medical space, but it appears those plans have been abandoned.
Now that the 421-a tax exemption program may return, developers seem to be taking a hard look at affordable neighborhoods in the Bronx. A builder based in Morris Park, in the East Bronx, has filed plans for an eight-story residential project in nearby Westchester Square, a working-class area with a growing immigrant population.