East Flatbush is the final frontier for developers who want to build in central Brooklyn and can’t afford to buy in Crown Heights, at least until the rental market picks up a couple train stops away in East New York. Today, we have a look at a new development coming there to 533 Albany Avenue, between East New York Avenue and Maple Street.
The apartment building will fill an empty lot on a sleepy block a couple blocks north of Kings County Hospital. A public elementary school, P.S. 91, sits across the street, and a charter elementary school occupies a building a block away on the corner of East New York and Troy avenues.
The six-story project will have nine apartments, stacked on top of 1,950 square feet of medical offices. Those nine units would be spread across 8,465 square feet of residential space, yielding decently sized units averaging 940 square feet. Each of the upper floors will have two units, except for the top floor, which will have just one penthouse apartment with a private terrace. There will also be a shared roof deck for the other residents.
Engineer Sion Hourizadeh applied for the building permits, but we’re not sure who’s responsible for the rendering. The facade has an attractive, modern feel that will help revitalize this relatively run-down block.
The developer is Eli Maloul, doing business as a Bed-Stuy-based LLC. He picked up the 2,852-square-foot lot for $740,000 in 2014, paying about $71 for each square foot for his planned building.
The only downside of this neighborhood is the train access. The Sterling Street stop on the 2 and 5 trains is the closest place to catch the subway, and it’s six long blocks away. The Kingston Avenue stop on the 3 and the Utica Avenue stop on the 3/4/5 are both a 15 to 20 minute walk away too. If the city ever runs a subway or a streetcar south down Utica Avenue, residents in East Flatbush would see huge benefits, and it would encourage more development in this affordable piece of Brooklyn.
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