New building applications were filed last week to replace a two-story factory at 498 Leonard Street in Greenpoint with three four-story apartment buildings. Each building in the development will have eight units, a penthouse and 6,598 square feet of residential space. Our back of the envelope calculations indicate these will be fairly small apartments (700 to 800 square feet), so we’re guessing these will probably be rentals but we don’t know for sure.

The developer has filed demolition applications to knock down the 1920s-era factory, but the DOB hasn’t approved them yet. The architect of record is Chi F. Lau. Developer East Star Realty LLC bought the 7,400 square foot property in July for $1,800,000, according to PropertyShark. Since 64 Bayard launched earlier this month with 750-square-foot one-bedrooms renting for $3,400 on the south side of McCarren Park, it will be interesting to see what these units just northeast of the park will get. GMAP

Photo by Christopher Bride for PropertyShark


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