211 Schermerhorn Street

211 Schermerhorn Street Making Progress in Brooklyn’s Boerum Hill

Just up the street from the Ace Hotel at 266 Schermerhorn, in the Brooklyn neighborhood of Boerum Hill, the Morris Adjmi-designed 211 Schermerhorn Street is now halfway up to its future height of 14 floors. The project is being developed by Oestreicher Properties and GPB Capital Holdings, LLC, who purchased the site for $30 million last year, and it will contain 48 units ranging from one- to three-bedrooms.

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211 Schermerhorn Street

Developer Closes on Site of Planned 14-Story, 47-Unit Mixed-Use Project at 211 Schermerhorn Street, Downtown Brooklyn

About a year ago, Chelsea-based GPB Capital Holdings entered into contract to acquire the development site at 211-215 Schermerhorn Street, in Downtown Brooklyn. Now, the entity has finally closed on the purchase for $30 million, Commercial Observer reported. The developer plans to build a 14-story, 47-unit mixed-use building at the site, as reported by YIMBY when filings were submitted earlier this year. The latest permits indicate the project will encompass 93,184 square feet. There will be 5,372 square feet of retail space across the ground and cellar levels, followed by residential units above. The units will be condominiums, averaging 1,464 square feet apiece. Morris Adjmi Architects is the architect of record. The 7,556-square-foot assemblage is currently vacant.



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