Permits have been filed for an 11-story mixed-use building at 533 Pacific Street in Boerum Hill, Brooklyn. Located between Third Avenue and Fourth Avenue, the through lot also known as 542 Atlantic Avenue is steps away from the Atlantic Avenue-Barclay Center subway station, serviced by the B, D, N, Q, R, 2, 3, 4, and 5 trains. The property is owned by Sterling Town Equities, which bought the commercial site last year for $28 million.
Sterling Town Equities
As Fourth Avenue’s construction boom stretches south of the Prospect Expressway in Brooklyn, condos are rising on the neighborhood’s less desirable blocks, closer to the traffic-clogged road and further from Green-Wood Cemetery. One such project is in the works at 186 21st Street between Fourth and Fifth Avenues in Greenwood Heights.
Empty lots are slowly disappearing in western Crown Heights, as developers snap them up for condo-worthy prices. One of these developers has filed plans to erect a five-story, eight-unit apartment building on the vacant plot at 529 Park Place, between Grand and Classon Avenues.
YIMBY has a rendering for 180 Concord Street, a four-story, seven-unit building designed by Issac and Stern in Downtown Brooklyn.
Sterling Town Equities has acquired the two-story commercial building and adjacent vacant lot at 186-190 21st Street, off Fourth Avenue in South Slope, for $6 million. The new owners plan to demolish the existing structure to make way for a condominium development, according to Commercial Observer. The property boasts 20,034 square feet of building potential, and the purchase was made in cash.