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.
Construction is now 24 stories above street level on the 33-story, 270-unit mixed-use building under development at 120 Nassau Street, located on the corner of Jay Street in Downtown Brooklyn. The progress on construction can be seen thanks to photos posted to the YIMBY Forums. The latest building permits indicate the 425-foot-tall tower will measure 312,093 square feet. The base will include 57,904 square feet of commercial space, in the form of retail on the ground floor and office space on floors two through eight. The residential units elsewhere in the tower should average 854 square feet apiece, indicative of rentals. The Clarett Group is the developer and Woods Bagot is the architect. Completion can probably be expected in late 2017.
United American Land is currently converting the top five floors of the Offerman House, an eight-story commercial building and individual landmark at 248 Duffield Street in Downtown Brooklyn, into 121 residential units. The units will be rental apartments ranging from studios to three-bedrooms, the New York Times reported. The lower floors of the property are currently leased to retailers, including Nordstrom Rack and Old Navy. GreenbergFarrow is designing the conversion. Occupancy is expected in the spring of 2017.
Since YIMBY’s previous update in May, the 28-story, 150-unit mixed-use tower under development at 436 Albee Square, in Downtown Brooklyn, has topped out and begun façade installation. The latest photo of the project was posted to the YIMBY Forums by construction photographer Tectonic. The most recent building permits indicate the structure measures 155,100 square feet and stands 310 feet above street level. There will be 23,740 square feet of retail space across the cellar through third floors. The residential units above should average 793 square feet apiece, indicative of rental apartments. Yoel Schwimmer is the developer and ODA New York is behind the design. Completion is expected in 2017.