The neglected 4.5-story building at 109 Gates Avenue, in southern Clinton Hill, has been acquired by an unknown buyer for $2.9 million, according to Brownstoner. The buyer reportedly plans to renovate the landmarked building into luxury rental apartments, with a retail unit on the ground floor. Back in 2003, the LPC approved a restoration of the building to its current state, the first renovation since 1908.
Property owner Cyrous Akhavan has filed applications for a four-story, six-unit residential building at 727 Lafayette Avenue, in central Bedford-Stuyvesant, three blocks east of the G train’s stop at Nostrand Avenue. The building will measure 5,000 square feet, which means units will average 833 square feet. Russell Dance’s Queens-based RLD3 Engineering is the applicant of record, and the site’s dilapidated two-story predecessor was demolished late last year.
Henry Cheng, head of 162 Realty Management LLC, has filed applications for a three-story, two-unit mixed-use building at 43-50 162nd Street, in East Flushing, located four blocks from the Broadway station on the LIRR. The building will measure 7,240 square feet, which includes 1,079 and 1,811 square feet of community and retail space, respectively, on the ground floor. On the second and third floors, two full-floor residential units will average a spacious 2,175 square feet. Flushing-based Thee Shiun Ken is the applicant of record, and the site’s two-story predecessor was demolished over the summer.
Earlier this year, YIMBY found an on-site drawing for a new development coming to 44 Kent Street, in Greenpoint. The plans were originally created for Cayuga Capital, but the firm sold the property for $8,750,000 last year to an LLC. Now, we can reveal that Pinny and Moishe Loketch of the Loketch Group are the new developers, and the design has also seen major changes, with Nataliya Donskoy’s ND Architecture and Design taking over the project.
As New York City’s development boom pushes further into the outer boroughs, builders are looking for more affordable properties in neighborhoods where few developers have been willing to tread since the city’s real estate market bottomed out in 2009.
But now the area east of Queens College—known as Pomonok or Kew Gardens Hills—is finally seeing some new construction. Bi Yuan Chen, of Flushing-based Parsons Tower LLC, is planning a seven-story apartment building with a daycare at 71-66 Parsons Boulevard, according to applications filed with the Department of Buildings on Friday.