Last week, YIMBY told you about a seven-story apartment building planned on Lenox Road in East Flatbush. Now the same developer is back at it just a few blocks south, and he’s filed new building applications for a four-story residential project at 157 Erasmus Street, between Rogers and Nostrand avenues in Flatbush.
The 21-unit development would replace an aging, single-family wood frame house. The property measures 50 feet wide and 140 feet deep, and a driveway and rear garage fill much of the lot.
Similarly, the new development will fill just over half of the 7,100-square-foot plot. An 11-car parking lot would take up the rest of the lot, and offer the minimum amount of parking needed to satisfy city requirements.
Those 21 apartments would spread across 15,103 square feet of residential space, with average units weighing in around 720 square feet. There would be three units on the ground floor, and six units on each of the remaining three stories.
Borough Park-based Isaac Stern is listed as the developer, and Coney Island-based engineer Oleg Ruditster applied for the permits.
The little house hasn’t sold since 2007, but someone took out a new mortgage (for an undisclosed amount) on the property last year.
We look forward to seeing more development in this part of Flatbush, where residents can easily walk to the 2 and 5 trains on Nostrand Avenue. In fact, the Church Avenue stop is right around the corner from 157 Erasmus Street. Developer Astral Weeks is also pushing through DOB approvals for a few small apartment buildings at the end of this block, at the corner of Nostrand and Erasmus.
But uncertainty about funding sources and tax breaks – like 421-a – tend to hit developers harder in marginal areas of Brooklyn than in fast-gentrifying hoods. Many of these projects may be stuck in financial limbo until the real estate lobby and the building trades reach a deal on the future of the 421-a tax abatement.