Flank Inc.

314-326 Wythe Ave

Flank Purchases Mixed-Use Development Assemblage at 314-326 Wythe Avenue, Williamsburg

Last week, Chelsea-based developer and design firm Flank acquired the development assemblage at 41-53 South 3rd Street, in Williamsburg, and now the firm is purchasing another assemblage of properties two blocks to the north. Frank is paying $21.6 million for the two-story building at 70 Grand Street, the corner lot at 72 Grand Street, and the single- and two-story buildings at 314-326 Wythe Avenue, according to the Wall Street Journal. The property assemblage could accommodate 26,904 square feet of new development if the current structures are demolished. Current plans call for the renovation of some of the buildings, in addition to the construction of new ones (which means something is likely to be demolished). The program will include residential units, office space, and retail.


41-53 South 3rd Street

Flank Acquires Mixed-Use Development Assemblage at 41-53 South 3rd Street, Williamsburg

Chelsea-based development and design firm Flank has closed on the purchase of the development assemblage at 41-53 South 3rd Street and 60 South 2nd Street, in Williamsburg, located two blocks in from the East River, for $36.2 million. The assemblage consists of a mix of single-story commercial-retail properties and vacant lots, according to The Real Deal. The plot could accommodate nearly 80,000 square feet of mixed-use development if the existing buildings are demolished. The developer is currently considering building a project with residential units, although plans won’t move forward until the existing tenants finish their respective leases, which expire between 2018 and 2023.


265 State Street

20-Story Mixed-Use Building Nears Topping Out At 265 State Street, Boerum Hill

Back in July, YIMBY brought you a construction update on the 20-story project under construction at 265 State Street, in Boerum Hill. Since then, The Boerum has risen from four to 17 stories, as seen in the latest photos by Tectonic. Cladding installation has also begun on the lower levels. The building will have ground-floor retail space, a hotel on floors one through six, and 128 condominiums up top. Flank is designing and co-developing with the Carlyle Group, and completion is expected in 2016.


265 State Street

20-Story Mixed-Use Building Rises At 265 State Street, Boerum Hill

Last December, foundation work started at 265 State Street, in Boerum Hill, where Flank and the Carlyle Group are developing a 20-story, 128-unit mixed-use building. Brownstoner now reports the building is up two stories above street level, and YIMBY has word that almost 80% of the structure’s units are in contract. Dubbed The Boerum, a hotel will occupy the first six floors, and retail is expected on the ground level. Flank is the design architect (as the firm designs and develops its own projects in-house), and Goldstein Hill & West is serving as the architect of record. Completion is slated for 2016.


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