Meadow Partners has acquired, for $54 million, the six-story, 124,000-square-foot commercial building at 57 Willoughby Street, located at the corner of Lawrence Street in Downtown Brooklyn. The new owner plans to renovate the property, which includes rebuilding the 9,450-square-foot ground-floor retail space and modernizing the office space on the floors above, Real Estate Weekly reported. The property also contains 96,000 square feet of air rights, The Real Deal first reported. A $50.2 million acquisition loan was secured for the purchase.
Queens-based TNE Building has filed applications for two four-story, five-unit residential buildings at 125-09 and 125-11 101st Street, in Richmond Hill. The buildings will measure 4,905 square feet each. Across both, the residential units should average 743 square feet apiece, indicative of rental apartments. Jamaica-based Royal Engineering is the applicant of record. The 40-foot-wide, 3,737-square-foot lot is occupied by a single-story commercial-retail building. Demolition permits were filed in November.
An anonymous Midtown South-based LLC has filed applications for a four-story, two-unit mixed-use building at 121 Meserole Avenue, in the heart of Greenpoint. The project will measure 7,803 square feet. It will include 1,657 square feet of retail space, for an art craft stop on the ground floor, followed by two apartments across the second through fourth floors, plus an upper penthouse level. The apartments should average 2,028 square feet apiece, which means condominiums are likely in the works. Freeport, N.Y.-based Zambrano Architectural Design is the architect of record. The 1,905-square-foot site is occupied by a two-story structure. Demolition permits were filed in October.
A decade ago, the New York City Housing Authority emptied out 22 decaying tenement buildings on the south side of 114th Street in central Harlem, sending residents to public housing elsewhere in the city. Those long-vacant buildings, part of Randolph Houses, have now been renovated and filled with residents, and workers have begun revamping 14 brownstones on the north side of the block.
It was nearly two years ago that YIMBY revealed the design for Adam America Real Estate’s new seven-story rental apartment building at 577 Baltic Street, between Third and Fourth avenues in Boerum Hill. Now, the structure is nearly complete.