Like the Bowery in Manhattan, Atlantic Avenue in Clinton Hill is set to develop from a low-slung restaurant supply strip into a mid-rise luxury residential corridor, enabled by a rezoning passed in 2007. The definition of “luxury” in some buildings will be a bit strained, but a new condo project by prolific central Brooklyn developer Boaz Gilad’s Brookland Capital has a design that aspires to be worthy of its price tag.
Permits for the eight-story building at 929 Atlantic Avenue were first filed in October by Feingold & Gregory Architects, a firm that has been submitting applications for a number of Gilad’s projects across a wide swath of Brooklyn over the past few months, from South Slope to the farthest reaches of Bushwick.
The building will have 20 apartments spread over 17,000 square feet of residential space, with studios through two-bedrooms. The western half of the yellow-accented building is set back from the street and slopes up as the building rises to meet the eastern half, with the two parts divided by an exposed raw elevator shaft.
With condos on Bedford asking nearly $1,000 per square foot and one apartment in Crown Heights trading above that, the price tag for an apartment at 929 Atlantic Avenue will surely exceed four digits, maybe landing closer to the $1,200 a foot that you’d pay in Williamsburg today if delivered before the market peak.
Gilad bought the land – home to an auto body shop specializing in glass and its lot – for $3 million last summer, around $170 per buildable square foot.
The developer told YIMBY that he plans to break ground in May.
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