On Thursday, the sale of 540 Atlantic Avenue in Boerum Hill to JSC Realty was completed. The $38.5 million deal was orchestrated by JLL Capital Markets, representing the legacy seller DMA Associates. JSC Realty plans to build a new mixed-use development comprising 154 units on the site.
Currently occupied by a five-story class C office property built in 1924, 540 Atlantic Avenue offers flexible zoning and 113,000 buildable square feet. Situated as a block-through lot with frontage on both Atlantic Avenue and Pacific Street, it is surrounded by Boerum Hill’s wide range of retailers, dining establishments, hotels, and educational institutions. The Barclays Center is steps away from the site, and the globally acclaimed Brooklyn Academy of Music is just one block from the property.
When complete, residents of 540 Atlantic Avenue will benefit from its central location, with six subway stations servicing ten subway lines and the Long Island Railroad, all within a five-minute walk of the property.
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instead of demolishing this brick and cement building that’s 100 years old, I hope they would incorporate the existing building into the new construction but
I doubt they will do that, probably end up in the landfill . What a shame.
Just hope it’s not an out of context glass cube .
The only building worth saving is the attractive 5 story facing Atlantic next to the old post office. The rest of the site is garbage. We’ll see whether or not the Atlantic building is incorporated. Either way this should be a pretty interesting redevelopment.
113k square feet isn’t all that much. Don’t expect anything significant here height-wise.