Construction may soon break ground at 868-870 New York Avenue in Flatbush, Brooklyn, following approvals from New York City’s Department of Buildings. Designed by Opera Studios Architecture, the existing town two-family, two-story will be completely redeveloped into a pair of multi-family properties.
This week the city’s Department of Housing Preservation and Development (HPD) announced $13.6 million in housing tax credits was awarded to seven developments. These projects will be responsible for creating and preserving 583 affordable units throughout the city.
Permits have been filed for a seven-story affordable housing building at 306 Pennsylvania Avenue in East New York, Brooklyn. Located between Belmont Avenue and Sutter Avenue, the interior lot is three blocks north of the Pennsylvania Avenue subway station, serviced by the 2, 3, and 4 trains. NYC Department of Housing Preservation and Development is listed as the owner behind the applications.
Despite the anticipated slowdown of commercial real estate, Brooklyn Navy Yard Development Corporation, or BDNYC, is reporting more than 160,000 square feet of new commercial leases within the former industrial complex. This figure does not include an additional 81,000 square feet of lease renewals and an unspecified inventory in their 2021 pipeline.
Work is nearing completion on Brooklyn Point, the borough’s tallest skyscraper at 720 feet and number 19 on our countdown of the tallest construction projects underway in the city. Developed by Extell and designed by Kohn Pedersen Fox with SLCE Architects as the architect of record, the 68-story residential tower is part of the City Point complex in Downtown Brooklyn and is formally addressed as 1 City Point and 138 Willoughby Street. The property will contain 458 units in studio to three-bedroom layouts, with interior design by Katherine Newman. Ryan Serhant and his newly established brokerage, SERHANT, will handle sales for the homes, which will range from $850,000 to nearly $4 million.