Last month, news broke that the city, with selected developers RAL Development and Oliver Realty Group and architect ODA New York, would be moving forward with a two-building residential project at Brooklyn Bridge Park’s Pier 6, in southern Brooklyn Heights, without the support of the Empire State Development Corporation (ESD). Yesterday, the Brooklyn Bridge Park Corporation voted to approve the updated project, Curbed NY reports. The latest plans call for a 28-story, 126-unit market-rate condominium tower and a 12-story, 140-unit mixed-income rental building, where 100 of the rental apartments will rent at below-market rates, according to the Wall Street Journal. One of the buildings will feature a public restroom, but there’s no mention of any commercial components. Construction is expected to begin in the first half of 2017. As part of the deal, the city will receive a one-time payment of $115 million followed by $2.7 million per year.
In March, the Empire State Development Corporation (ESD) withheld approval for the two-tower, mixed-income residential project at Pier 6 in Brooklyn Bridge Park, located in southern Brooklyn Heights. The city selected RAL Development and Oliver Realty Group, with ODA New York as the architect, to develop a 29-story, 192-unit condominium building and a 14-story, 147-unit mixed-use rental building with 117 below-market-rate apartments, a preschool, a 930-square-foot retail component, and 1,500-square-foot community facility. Now, the ESD is withdrawing from the project, entirely over concerns regarding ties between the developers and the administration of Mayor Bill de Blasio, Politico New York reports.
Financial District-based Glory Capital has filed applications to convert the 27-story, 92-unit dormitory at 67 Livingston Street, in Brooklyn Heights, into an office building. The 45,143-square-foot, 22-foot-wide building will host office space on the ground through 25th floors. The conversion will include amenities, specifically a fitness center on the second floor and a sky lounge on the 26th floor. The property’s square-footage will remain unchanged. The 182-student dormitory is current being used by the Art Institute of New York City, and their lease expires later this year. H. Thomas O’Hara’s Midtown South-based HTO Architect is the architect of record.
In January, Benchmark Real Estate Group acquired the five-story, 20-unit residential building at 50 Orange Street, in Brooklyn Heights, for $13.5 million. The developer has since tasked Lee Stahl’s design/build firm Renovated Home to draw up plans to convert the home into a single-family mansion, according to the Wall Street Journal. The 14,500-square-foot townhouse would include four bedrooms, a gym, an 800-bottle wine cellar, a library, and a rooftop terrace, although ultimately the buyer will be able to design the final layout. Construction is expected to last into 2017, although the property is already on the market for $22 million. A number of tenants are still currently residing in the building. Any exterior alteration must be approved by the Landmarks Preservation Commission, as the property is located within the Brooklyn Heights Historic District.
RFR Holding, LIVWRK, and Kushner Companies are preparing to enter into contract to purchase the 11-story, 733,000-square-foot office complex at 25-30 Columbia Heights, in Brooklyn Heights, in addition to the vacant full-block, 135,000-square-foot development site at 85 Jay Street, in DUMBO, from the Jehovah’s Witnesses. The team of developers are paying $700 million for the properties, according to the New York Post. 25-30 Columbia Heights, which is commonly called the “Watchtower,” is the organization’s current headquarters. It could possibly be turned into a commercial hub, similar to how the same developers converted the former Jehovah’s Witnesses properties at 81 Prospect Street into offices back in 2014. As for 85 Jay Street, the site has been long approved for roughly 1.1 million square feet of development. That’s as many as 700 to 1,000 residential units, which could boost the neighborhood’s population by a third, Brownstoner reported a few months ago.