There hasn’t been much progress on-site at 80 Dekalb recently but behind the scenes it appears that Forest City is getting its ducks in order. Speaking at the Brooklyn Real Estate Roundtable luncheon a couple of weeks ago, FCR’s MaryAnne Gilmartin noted that $109 million in tax-exempt financing is expected to be approved for the 34-story building. As this one’s an 80/20 deal, 292 units will be market rate, 73 low-income. The breakdown, Gilmartin said, will be 34% studios, 51% one-bedrooms and 15% two-bedrooms. Rents are projected to be in the mid-$50s; leasing is expected to begin next summer. One other interesting number for the development junkies out there: Hard costs on the project are predicted to be about $390 per square foot.
Public Hearing Scheduled for 80 Dekalb Financing [Brownstoner] GMAP P*Shark
Development Watch: 80 Dekalb Avenue [Brownstoner] DOB
Demo Done at Site of Ratner’s Dekalb Tower [Brownstoner]
At 80 Dekalb, No Mention of Ratner [Brownstoner]
Ratner: ‘Fort Greene, I’ve Got You Surrounded’ [Brownstoner]