409-421 14th Street1

An unusual property, a landmarked row of seven apartment buildings on 14th Street, directly across the street from the Park Slope Armory YMCA in South Slope, is up for sale. The buildings at 409-421 14th Street, which have a total of 44 rental units, are being marketed for $16,500,000.

It’s a remarkable row of buildings. The larger apartment building at 409 14th Street has eight two- and three-bedroom units. The six three-story brick buildings look like small row houses and have one-bedroom units.

The buildings are all on one city tax lot and appear to have been designed to have one owner — they are all heated by one massive boiler in the eight-unit building. Combined, the buildings have 150 feet of frontage on 14th street.

The larger building at 409 14th Street was built around 1909 in the Colonial Revival style. The others are all Neo-Grec and were built around 1887 by Conlon & White. Some of the entrances were later altered in the Colonial Revival style.

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A vacant lot protected by roll-down gates at 1425 Fulton in Bed Stuy is up for sale and could become a 33-unit apartment building with stores on the ground floor.

The seller, who’s offering it through GFI Realty Services Inc., is looking to get a whopping $6,000,000 for the site, located between Marcy and Tompkins. Ambitious, perhaps, though the broker touts development rights allowing for a 22,365 square foot mixed-use building.

That works out to $268 per buildable square foot. (more…)

2527 Church Avenue

Development could be coming soon to this modest three-story building and adjacent vacant lot in Flatbush. Both lots sold to an LLC for $600,000 in November.

Now the parcel is for sale as a development site, and the new owner is asking $2,029,000 — quite an increase in just a few months. Epic Commercial Realty is the agent. (more…)

257 S 5th street

The Dime Savings Bank of Williamsburgh has put its Williamsburg headquarters up for sale. The huge parcel of lots in South Williamsburg includes the historic 1908 Dime Savings Bank of Williamsburgh building and is being marketed as a development site by real estate firm Cushman and Wakefield. The parcel could, theoretically, be worth a rather mind boggling $55,000,000 or so.

The site is a roughly 50,000 square foot group of lots for sale includes 257 and 275 South 5th Street and 146 and 150 Marcy Avenue as well as 262 South 4th Street and 209 Havemeyer Street.

According to the broker the buyer could create a mixed-use development of about 230,500 square feet with 125,000 square feet of parking. Apparently the 1908 Dime Savings Bank building is not in danger of being torn down.

The firm is taking bids; no price has been set, although the bank has an undisclosed reserve price. The average price per buildable square foot for development sites in north Brooklyn was $241 in January, according to The Real Deal. If it sold at the average, that would work out to be $55,550,500. (more…)

333 Johnson Avenue1

A group of three developers purchased a three-acre industrial site in Bushwick for $26,750,000 and plans to turn it into a “creative community” with stores, restaurants and office space, according to real estate firm TerraCRG, which brokered the deal. Buyers Normandy Real Estate Partners, Royalton Capital LLC and Sciame Development will repurpose the existing eight buildings on the site, located at 333 Johnson Avenue, according to a release sent out by the developers.

The development will have more than 100,000 square feet of office and flex space, 60,000 square feet of retail space and 40,000 square feet of outdoor space. The developer plans to include space for “artisanal food production.” No plans have been filed for the site and the renderings are purely conceptual. The building is scheduled to be completed in early 2016 and tenants will have access as soon as late 2015, according to the release from the developers who were represented by real estate firm DTZ. (more…)

75-macdonough-street-2-050715

Dixon is shopping around its landmarked Bed Stuy apartment building at 75 MacDonough Street, hoping to get more than $4,000,0000 for it, a few different sources have let us know. Meanwhile, passerby have noticed signs on the top floor protesting conditions in the building, and one reader sent in the photos above and below. (Scaffolding has gone up on parts of the building since these photos were taken.)

Dixon is trying to see if it can get a good offer for the building, given the hot market, Alan Dixon, Managing Director and CEO of Dixon Advisory USA, told us. (more…)

112-MontagueStreet-4-22-15

Workers were sprucing up the storefront for rent at 112 Montague Street in Brooklyn Heights when we walked by yesterday morning. The wood trim around the front door and windows on the lower level have been primed and are being painted green.

The vacant storefront looks a tad more inviting, although inside there is still some trash and construction materials scattered sbout. This prime retail spot has been vacant since Starbucks relocated further down Montague Street to No. 134 way back in 2012. (more…)

22-quincy-street-4-041015

Salvation Army is selling off another Brooklyn building. The former warehouse and stable at 22 Quincy Street is in contract as of yesterday, for an amount around $30,000,000, we hear. The ask was about that, and there were multiple bidders.

As far as we know, it is an off-market transaction. The buyer was not revealed.

Given the price, it will likely be made over into a residential building, our source speculated, despite its enormous footprint and relative lack of windows. The building is 70,158 square feet and is over FAR, so demolition is unlikely. It is not landmarked. (more…)

100 union ave 1

A large development site at 100 Union Avenue, south of Broadway in Williamsburg’s Broadway Triangle, sold last week for $6,000,000, a spokeswoman for brokerage firm TerraCRG told us. The 10,453 square-foot lot is currently occupied by Knight’s Towing and Collision. The buyers, Adam America, Slate Property Group and Naveh Schuster Limited, plan to build rental apartments with ground floor retail.

The same developers also bought neighboring 120 Union Avenue in September of 2014 for $15,000,000, where they plan to build a 100-unit rental building with about 2,000 square feet of retail on the ground floor. Both lots were initially marketed together but the sellers decided to wait longer on the second lot so they could continue operating their towing business, according to TerraCRG.

If the developers choose to include affordable housing at one or both sites, they could build up to 130,000 square feet on the sites combined. TerraCRG represented the sellers.

Click through for an aerial view of the lot.

Rendering for Six-Story Apartment Building Coming to Broadway Towing [Brownstoner]
Photos via TerraCRG
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1 pierrepont plaza1

Former US Senator and Secretary of State Hillary Clinton has chosen Brooklyn as home base for her campaign for the presidency. Although she has yet to announce her official candidacy, her team just leased two full floors at 1 Pierrepont Plaza in Brooklyn Heights.

The move, which was first reported by Politico, follows months of speculation about where Clinton would base her campaign.

Her new neighbors include the U.S. attorney for the Eastern District of New York and a branch of Morgan Stanley. Forest City Ratner is the landlord.

Photo by 1 Pierrepont Plaza