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.
Just as the MTA considers a lengthy L train shutdown to repair flood damage from Hurricane Sandy, the Department of City Planning has kicked off the approval process for Williamsburg’s first new office building in decades. But the rezoning for the development at 25 Kent Avenue includes a policy that could shape industrial areas throughout the city. It would create a special district that allows developers to trade light manufacturing space for extra office space.
Back in the summer of 2014, YIMBY reported on filings for a new eight-story, 119-unit mixed-use building at 945 Bergen Street, in northwestern Crown Heights, but those plans have since been abandoned for a more conservative project. Instead of demolishing the former Nassau Brewing Co., Crow Hill Development is planning to convert the dilapidated four- and six-story structures into a single mixed-use building measuring 71,692 square feet. The building will include 32,493 square feet of residential space for 36 units. Retail space and restaurants will be located on the ground and below-grade levels, and the remaining square footage will take on some form of manufacturing use. Commercial Observer reports an $18 million construction loan was recently secured, and completion is expected in early 2017. Formactiv Architecture is designing.
An anonymous LLC based in Midtown South has filed applications for a four-story, 151,874 square-foot warehouse building at 2325 Hollers Avenue, in Eastchester, an industrial neighborhood located in the North Bronx. The block is zoned for medium manufacturing uses, and commercially rentable space in the structure would total 100,279 square feet. Jack Wilbern’s Virginia-based Butz Wilbern LTD is the applicant of record. The assembled lots are vacant with the exception of an auto shop located on the corner.
Back in July, details were revealed of the planned renovation of Brooklyn Navy Yard’s Building 77 — a 16-story, one million-square-foot industrial building — and now Brownstoner reports work is well underway. Retail space is planned on the ground floor, along with a 60,000 square-foot public food hall, and the floors above will be leased to commercial and manufacturing tenants. Beyer Blinder Belle and Marvel Architects are designing the city-funded project, which is expected to open for business in the second half of 2016.