East Flatbush hasn’t seen much development action since the 421-a tax break expired in January. But a little market-rate project is coming to the hood, possibly spurred by renewed negotiations over the controversial policy. A pair of five-story residential buildings may replace a detached house at 3603 Farragut Road, at the corner of Brooklyn Avenue in East Flatbush.
There would be two identical, 55-foot-tall developments. Each one would hold eight apartments and 5,998 square feet of residential space, for a typical apartment measuring 750 square feet. The ground floors would have duplexes with lower levels in the cellar, and the top two stories of both buildings would have duplexes.
The developer is Jeffrey Zagelbaum, who’s based in Midwood. Asher Hershkowitz, whose office is based a few blocks west of Zagelbaum’s, applied for the permits.
While East Flatbush isn’t known for excellent public transportation, this site isn’t too far from the subway. The Flatbush Avenue-Brooklyn College and Newkirk Avenue stops on the 2 and 5 trains are both about eight blocks away.
Zagelbaum’s LLC scooped up the 4,000-square-foot plot for $700,000 in July, paying about $58 for each square foot of his planned project.
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