Yesterday Ariel Property Advisors announced the sale of the huge lot at 626 Flatbush Avenue, in Prospect Lefferts Gardens, to the Hudson Companies. The Hudson Companies, developers behind Third + Bond as well as the new Kensington build 22 Caton Place, paid $11 million for the lot. The L-shaped parcel — the large building at the top center of the above image and the parking lot behind it — is on Flatbush between Parkside Avenue and Lincoln Road. They plan to build a 23-story, 254-unit rental building there, 20 percent of which will be affordable. DOB documents also indicate that there will be 4,758-square-feet of commercial space and 3,583-square-feet of community space. According to Ariel’s press release, “The property features 100 feet of frontage on Flatbush Avenue and a rear parking lot, which is approximately 52,265 square feet… The deal had to overcome several major hurdles before closing, including resolving an easement issue and relocating several commercial tenants.” Indeed, the developers signed a contract for the site back in March 2012, and the news leaked in February. The tower, the first new high-rise for the neighborhood, will be designed by Rogers Marvel Architects. The Department of Buildings have not yet approved the new building application.
Massive Tower Planned for Prospect Lefferts Gardens [Brownstoner]
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