Simon Baron Development has acquired the two-story commercial property at 12 Franklin Street, in southern Greenpoint, for $24 million, according to The Real Deal. Located six blocks from the Nassau Avenue stop on the G train, the property is within the proposed Enhanced Business District, which would allow developers to trade light manufacturing space for extra office space in the North Williamsburg Industrial Business Zone. Before proposing to build anything, Baron is waiting to see how well the proposed rezoning works. Under current zoning, the property could accommodate a new 55,500 square-foot commercial building, or if community facility space is included, a 133,320 square-foot building.
Property owner Tahira Chaudhry has filed applications for a five-story, six-unit mixed-use building at 1138 Manhattan Avenue, in northern Greenpoint, located at the corner of Box Street. It will encompass 9,648 square feet and will feature 1,180 square feet of retail space on the ground floor. Residential units will begin on the second floor and should average 995 square feet apiece. There will be two units per floor on floors two and three, another unit on part of the fourth floor, and a duplex units on the rest of the fourth floor and the entire fifth floor. Fresh Meadows-based Jamil Coppin is the architect of record. An existing three-story townhouse must first be demolished.
A strip of aging industrial buildings along McCarren Park in Greenpoint are gradually giving way to residential ones. First, an old school Polish bakery sold to Chatham Development Company for $8.7 million, and plans for a seven-story, two-tower condo building surfaced at the DOB. Now, new building applications have been filed for a six-story apartment building at 848 Lorimer Street, between Nassau and Driggs avenues.
Just about every empty lot and warehouse in northern Greenpoint is becoming a small apartment building, but Hadas Hakmon’s M Development has snagged one of the last available sites in the area at 44 Box Street, a block from Newtown Creek and the East River waterfront.
London-based Quadrum Global acquired the 179,000 square-foot development site at 53 Huron Street (a.k.a. 161 West Street), in Greenpoint, back in 2014 for $45.5 million. With the inclusionary housing bonus and an up-zoning, the site could accommodate a roughly 430,000 square-foot development, and Young Kim’s Queens-based Tan Architect has designed such a project. According to Brownstoner, the plans, which are currently on hold, sport 15- and 22-story residential towers with 516 total units. A sky bridge would connect the towers, and a multi-level podium would include parking, a terrace, and probably retail space. It’s not known when the developer will move forward with the project, which would require the demolition of a two-story warehouse.