The affordable housing lottery has launched for 1044 Bedford Avenue, a seven-story residential building in Bedford-Stuyvesant, Brooklyn. The 16,335-square-foot development was designed by Hany Rizkalla Architect and developed by Prime Rok Real Estate, and yields 24 affordable housing units. Available on NYC Housing Connect are five units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $70,286 to $167,570.
Prime Rok Real Estate
Two months ago, YIMBY got a glimpse of the dramatic changes proposed to convert an Upper West Side community facility into a residential building. Last Tuesday, the Landmarks Preservation Commission approved those changes to 164 West 74th Street.
Prime Rok Real Estate and Greystone Development purchased the eight-story, Beaux-Arts building at 164 West 74th Street for $26.8 million in February from drug and alcohol rehab nonprofit Phoenix House. Now, the two companies are converting the building, between Columbus and Amsterdam avenues in the Upper West Side/Central Park West Historic District, into condos.
Prime Rok Real Estate and Greystone Property Development have purchased the eight-story, 33,000-square-foot building at 164 West 74th Street, on the Upper West Side, for $28 million. According to Commercial Observer, the new owners are planning to convert the building, which is currently Phoenix House’s drug and alcohol rehabilitation facility, into 14 to 18 condominium units. As currently proposed, the structure’s façade will be lightly restored, the rear will be partially demolished, and the interior will be gut-renovated. Barry Rice Architects is designing the conversion, but any alterations to the property will have to be approved by the Landmarks Preservation Commission, as it’s located within the Upper West Side-Central Park West Historic District.
Back in 2014, YIMBY reported on filings for a seven-story, 24-unit residential building at 1044 Bedford Avenue, in western Bedford-Stuyvesant, and renderings surfaced of the project earlier this year. But this past October, Prime Rok Real Estate acquired the site for $5.26 million, according to DNAinfo, and their in-house team has made slight design changes. The latest plans retain what was previously approved – that the majority of rental units will have one- and two-bedroom configurations. Construction is expected to begin later this month and should be finished by 2017.