Atlantic Avenue Development Site Going, Going…

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Brooklyn Streets, Carroll Gardens reports that a sweet little chunk of real estate fronting Atlantic Avenue and Pacific Street is set to be auctioned off on Valentine’s Day (the perfect gift for the developer in your life?). The auction consists of five contiguous parcels between Smith and Boerum Place; the largest of the parcels is the parking lot fronting Atlantic, above, which is right next door to the 66-unit development planned for 252 Atlantic. The parcels fronting Pacific Street, meanwhile, are directly across the street from the 12-story tower slated for 262 Pacific. All together, the package consists of about 80,000 square feet of developable space, and the zoning allows for a residential-retail mix. Anyone care to guess how much this might fetch?
Brooklyn Streets, Carroll Gardens [BSCG] GMAP
Valentine [Curbed]

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  • Let Corcoran represent the sale. They surely could get 16.7 billion for it.

  • If I recall correctly, the ask was around $25M when PDE had this listing.

  • Realistically, no developer in auction will pay more than $42 million for the package on Atlantic in front of the detention ctr.

  • The detention center is NOT a big deal. Its not like the prisoners are in view. I live in the area and the center looks like every other building.

  • 10:25, I think the concern I would have about having a place would not be a view of the prison, but the idea of some miscreant looking in your window and whacking his bag. Maybe looking you up when he gets out.

  • 10:54 here again. Before anyone mentions the obvious, yes, the jail is currently vacant but could be reopened at any time, and presumably will be at some point.

    Until, of course, everyone who buys these units pickets to get rid of the jail that was there when they bought.

  • Just hoping it is sold and redeveloped soon.
    I see work has started on lot next block west on Atlantic but nothing seems to be happening on this block on big lot along Boerum yet.
    The lots containing Pacifico/Trout etc on Smith St. corner would also seem ripe for redevelopment.
    Guess at price? maybe 20M – 25M tops.

  • bmfsq

    10:57 AM- The jail is not vacant, it holds arrestees awaiting an appearance every single day, 365 days a years.

  • 11:07 – I agree

    $300/FAR tops.

    $250/FAR in the current market is probably more accurate.

  • 11:10 Should there be a discount for the FAR on plot B. As while it is “contiguous” (well, 25 feet anyway) it really doesn’t fit nicely into the remaining parcels. And is the part they don’t have on Atlantic to the left of Parcel A the bike shop?

  • p.s. Brooklyn Eagle reporting that no developer is seriously interested in ‘great idea’ of building next to house of detention(same block) in corrections proposal to double capacity of jail. But still some possibility of developing commercial along Atlantic on jail parcel (my guess won’t happen either).
    Still – I find jail minor factor in area especially if all these other projects get built. But would be nice if court and jail employees didn’t park illegally, etc.

  • 10:54/10:57, the cells are not on the outside of the building; the walkways for the guards are.

  • As for property value, Gertrude Stein might say: jail is a jail is a jail

  • So how tall can these buildings be? 12 stories?

  • $13M – $15M; I’d say the lower end of the range. $25M is delusional.

  • Where are the going to get the money for development???!!! Who is going to fry their money in this shit??!!! Why you think there are going the auction route??!!! They are stuck with that shit and don’t want to assraped!!!! Those lot will be lots for years and years. Plus plenty of development sites will not get finished. They will sit like that for years to come. It’s a damn shame, money being wasted.

    The What

    Someday this war is gonna end…

  • $250/FAR ft? thats nuts
    Maybe $160-170/FAR ft
    If its 80k sqft= $12.8-$13.6

    irregular site less $

  • what happens if a prisoner digs a tunnel out to my patio?

  • We live in Brooklyn NY,
    you people should be more worried about the smarter criminals walking the streets that havent been caught yet…….As far as the retail space that might open up on the ground floor-maybe thats where the Apple store will settle…that would be jailarious

  • i negotiated for most of this parcel 3 years ago i was ready to pay for 120 a buildable foot as of right. i dont know exactly what the as of right far is but you can rest assure that it will fetch between 175-225 a buildable foot. and by the way the banks will line up to finance it

  • i negotiated for most of this parcel 3 years ago i was ready to pay for 120 a buildable foot as of right. i dont know exactly what the as of right far is but you can rest assure that it will fetch between 175-225 a buildable foot. and by the way the banks will line up to finance it

    Really??????!!!! Who motherfucker??!! Banks need capital right now and they are running away from clusterfucks like this. Nice going Brownstoner, assfuck!

    The What

    Some day this war is gonna end….

  • The jail has a door through which released criminals will walk penniless back into Brooklyn society. Just sayin’–I don’t want my luxury apartment to be the first thing that an ex-con sees through that door, shining like a golden beacon.

  • Not only does the the building across the street look unmistakably like a jail. It looks like an ugly, decrepit jail. And you can see figures behind the glass block or wahtever it is at night. It is the very model of an old, beat-up, crowded, nightmare House of Detention.

  • Is a criminal really going to walk across the street from jail and commit another crime?.. the Brooklyn House of D I believe is for people being detained until the get arraigned in the courthouse behind it, not for people serving real time, I may be mistaken. Living here for decades, I think a more realistic threat is the transients leaving the ER from LICH, than a crimey leaving the house of D.

  • that photo is way off. where is this parcel?

  • Nice to see the current folks won’t have to try to burn the existing dumps down again.

  • I lived less than 2 blocks away from the jail for years. The inmates were not the problem in the neighborhood- let’s not write panic scenarios based on ignorance. The biggest problem with the jail is sheer ugliness. That part of downtown Brooklyn is hardly the most scenic at any rate. But it’s a great area to live none theless.

  • The plans are to double the size of the jail.
    Believe it.
    Sites for jails are not easy to come by and the city is never giving this up. plus it is convenient to the courts. This has been a jail for a long time and it is going to remain a jail -a bigger jail- forever. Even in the Star Wars future when jails are obsolete, this will be a jail museum.

  • photo is not ‘way off’ – it is just upside down from how you might expect to see it.
    ‘Criminals’ are released from the criminal court building (across State St) all the time – far more than will be released from jail.
    Not a big deal.

  • I lived on that block of Pacific for 13 years while the jail was in operation. The prisoners had a very clear view of our building’s roof deck area from the exercise yard on the jail roof. While not a really dangerous or anything, they shouted catcalls and rude stuff whenever we on the roof while the exercise area was in use. It was at times like living next to a construction site.

    Amusing at first but then truly annoying were the guys being taken in to lock-up calling down to their girlfriend standing on Atlantic late at night to “Get the Bail! Get the bail now!” It was colorful, I guess, but ultimately the whole thing a PITA since it did affect our enjoyment of the outdoor space and sometimes our sleep. Before some of you start the lecture about buying that coop in the first place, I will say we were young and the coop was the ONLY thing we could afford. The jail was probably one of a few reasons why we could afford it. The eventual sale of that coop did give us the money for our house. But when we sold, the jail was one definite factor in our brokers pricing and prospective buyers did ask about it. To say its presence doesn’t matter at all would be incorrect.

  • appears to still be on the mkt?

  • anyone know what’s up with this? haven’t heard anything since the auction…