As Midwood’s Orthodox and immigrant communities grow, residential construction will keep booming, and with it, commercial development. The latest example of economic progress in the working class Brooklyn neighborhood are two substantial retail and medical office expansions at 1989 and 2003 Coney Island Avenue, between Avenue P and Quentin Road.
Hampshire Companies has tasked Cushman & Wakefield to market the 10-story, 130,000 square-foot warehouse building at 341 39th Street, and the adjacent seven-story, 30,000 square-foot warehouse at 353 39th Street, located three blocks from the 36th Street stop on the D, N and R trains. The asking price is nearly $50 million, and the site is being advertised as a potential redevelopment, according to Crain’s. The buildings could be converted into office space as-of-right, or a rezoning could be sought for residential use.
In August of 2014, YIMBY revealed renderings of Savanna Fund’s planned nine-story, 166,525 square-foot commercial building at 540 West 26th Street, in West Chelsea, and now the developer has secured $115 million in construction financing from Deutsche Bank, according to Commercial Observer. The building is expected to include a variety of tenants, and Avenues: The World School has already committed to leasing 85,421 square feet. Demolition of the old two-story building is complete, and excavation is expected to begin in October, with completion slated for 2017. Morris Adjmi Architects is designing.
The longtime shopping hub at the corner of Flatbush and Nostrand Avenues in Flatbush has attracted a slew of major commercial tenants in recent years, including Target and Blink Fitness. Now it looks like the area will get even more retail at 2251 Nostrand Avenue, just south of the 600,000-square-foot Triangle Junction mall that helped kickstart the neighborhood’s commercial renewal when it opened in 2008.
Jack Aini, doing business as an anonymous LLC, has filed applications for a four-story, 8,000 square-foot mixed-use commercial building at 2799 Coney Island Avenue, in southern Sheepshead Bay, six blocks from the B and Q trains’ stop at Sheepshead Bay Road. On the cellar level and fourth floor, a relatively large daycare facility will operate and will have access to outdoor rooftop space. Healthcare facilities and offices will be located on the second and third floors, and a lobby and parking garage will take up the ground floor. Robert Palermo’s Corporate Design of America is the architect of record, and an existing three-story building must first be demolished.
