The city’s Economic Development Corporation held a press conference today to announce plans for the block-long and century-old Bedford Union Armory at 1555 Bedford Avenue in Crown Heights, which will get 13 stories of rental apartments, a recreation center, community event space and commercial space.
Slate Property Group
Last week, Brownstoner brought us a construction update on the seven-story, 74-unit residential redevelopment at 51 Jay Street, in DUMBO, and now YIMBY can announce the expansion project has officially topped out. Its residential units average 1,815 square feet apiece and have commanded one of the highest price per-square-foot figures in the neighborhood, selling at $2,083 per-square-foot. The building is nearly 75 percent sold, as reported earlier, and move-ins are expected sometime next summer or fall. Residents will have a slew of amenities available to them, and 1,333 square feet of retail space is planned on the ground floor. Slate Property Group and Adam America Real Estate are the developers, while ODA Architecture designed the project.
The residential redevelopment of the former three-story, 81,805 square-foot manufacturing building at 51 Jay Street, in Dumbo, has topped out, according to Brownstoner. The structure has been transformed into a seven-story building and now measures 135,658 square feet. Seventy-four condominiums units will spread across the majority of the building, measuring an average 1,815 square feet apiece, and 1,333 square feet of ground-floor retail is planned. The project includes six separate penthouses and is currently 75 percent sold with move-ins expected in mid-2016. Slate Property Group is developing is ODA Architecture is the design architect.
Slate Property Group and RWN Real Estate have acquired the 10-story, 33-unit apartment building at 144 East 24th Street, in Kips Bay, for $29 million. The 40,000 square-foot structure will be renovated and reconfigured into a 42-unit property with smaller apartments, likely to accommodate the neighborhood’s growing student population. The small ground-floor retail space will also be expanded. It is currently occupied by Ralph’s Famous Italian Ices, according to The Real Deal.
In July, Adam America Real Estate and Slate Property Group were in contract to acquire the development assemblage at 8-16 Nevins Street, in Downtown Brooklyn, and now the team has closed on the purchase, according to Crain’s. The developers paid $47.75 million for the site, and Vanke, a Chinese developer, is partnering to build a 33-story, 150-unit residential building. The tower will total 180,000 square feet, and retail space is also likely planned. Construction is expected to begin early next year, although multiple low-rise buildings must first be demolished.