Read Property Group, developer of the massive Bushwick mega-project Rheingold Brewery — it encompasses at least 10 city blocks — has sold part of the site to another developer, named Joel Goldman. The sale has not yet hit public records, but Read told local Council Member Antonio Reynoso and community development watchdog group Rheingold Construction Committee about the sale, City Limits reported.

It’s business as usual for developers to resell or flip development sites. But Reynoso and community organizers are worried Goldman and another developer, Rabsky — which also bought part of the site last year, for $53,000,000 — won’t honor the promises Read made to build affordable housing on the site in exchange for a 2013 rezoning. (more…)


Forest City Greenland Partners and architect firm Marvel Associates Monday filed an application for a new-building permit to construct the seventh residential tower in the controversial Pacific Park/Atlantic Yards mega-complex. The 26-story, 323-unit building at 37 6th Avenue will house the public school whose location the City Council OK’d last week, as The Real Deal was the first to note.

Previously known as B15, the site is located on the northeast corner of Dean and 6th Avenue across from Barclays Center. It has been serving as a parking lot and staging ground for equipment for construction across the street. (more…)

Broadway Triangle DevelopmentPhoto by Christopher Bride for Property Shark

Developers are acting fast in Williamsburg’s Broadway Triangle, where permits were filed this week for the construction of a new, 34-unit building at 100 Union Avenue. The 60-foot-tall, 28,347-square-foot building will be designed by Aufgang Architects, and developed by trio Slate Property Group, Adam America, and Naveh Shuster Limited.

100 Union is the second lot on the street the three developers are building on, having filed permits for a 96-unit structure at 120 Union Avenue last year. Both buildings will be six-stories and residential, with a small amount of retail space. 100 Union will also have a 17 car garage, as required by zoning.



A housing glut is coming, The Wall Street Journal reported this week. Brooklyn developers have been warning investors of declining Brooklyn rents. But not so fast. We received this statement from Downtown Brooklyn Partnership President Tucker Reed strongly refuting the notion that Brooklyn is overbuilt. He says demand remains strong and more housing is needed:

“[A] Wall Street Journal article about residential development in Brooklyn, particularly Downtown Brooklyn, paints an inaccurate picture of housing supply and demand in the borough and the city as a whole and warrants additional commentary. First, the demand for housing in Downtown Brooklyn exceeds available supply, as evidenced by the most elementary data points –- rising rents and land values. Further, nearly all of the 6,700 units built in Downtown Brooklyn since the 2004 rezoning have been absorbed, leaving negligible current inventory for buyers and renters looking to enter the market. If anything, we suffer from a lack of available product today. (more…)

Park Slope Condo Permit 11 Story Building 4th Ave

One man’s auto shop is another man’s luxury tower. A permit was filed Wednesday to erect an 11-story apartment building in Park Slope at 243 and 245 4th Avenue, in place of two existing single story auto repair shops. A combined 60-foot-wide lot, the properties were purchased for a total of $9,900,000 in June, YIMBY reported.

Karl Fischer is the architect and Hosea, or Haysha, Deitsch is the developer. The 118-foot-tall residential structure-to-be will have 16 apartments as well as ground floor commercial space and a small community facility. The permit specifies there will be 32,021 square feet of commercial space and only 3,171 square feet of residential, but this is likely a mistake and YIMBY says it’s the opposite.


Brooklyn Building Permits Plummet 97% in July As 421A Tax Break Expired

The rate of Brooklyn’s housing permits went on a roller coaster ride this summer as builders hurried to begin construction before the lucrative 421-a tax break expired on June 15. Brooklyn gave out 8,499 construction permits in June — more than any other borough. But in July, that number was a meagre 246, reported Crain’s.

The 421-a program gives developers a tax break if at least 20 percent of their units were affordable housing. But as we wrote about last week, not all Brooklyn developers have held up their end of the 421-a bargain.

Builders could have cooled it in June — the law was extended through the end of the year, and a new version of the 421-a is in negotiations. If passed, it will likely require a higher percentage of affordable units and higher wages paid to workers on 421-a sites.


Greenpoint Development Site

Investor Joseph Brunner closed Tuesday on an $18,000,000 deal in Greenpoint, The Real Deal reported. The seven-building development site includes 1050-66 Manhattan Avenue and 154 Eagle Street, totaling 57,000 square feet of buildable space.

Brunner plans to develop the site into a mixed-use rental building, according to The Real Deal. If that’s the case, the current 57,000 square feet of buildable space could increase to 74,000 square feet if he participates in the city’s inclusionary housing program. (more…)


The now-shuttered Walgreens on Atlantic Avenue in Boerum Hill is likely to become a six-story, 29-unit condo building with stores on the ground floor. Architect Beyer Blinder Belle filed a new-bulding permit application Wednesday, NY YIMBY reported, that confirmed plans described by unnamed sources to The Real Deal in April.

The new-building application, filed under the address 505 Pacific Street, calls for a 71,742-square-foot building with 55,449 square feet of residential space and 16,293 of commercial. It will be 80 feet high.

There will be 12,725 square feet of underground parking for an unspecified number of cars as well as a fitness room for residents in a sub cellar. The cellar and ground floor will be given over to retail, as well as a lobby. (more…)

Melamed Architect Church Condo Conversion Bushwick Brooklyn

Renderings have been revealed for a former Romanian Pentecostal church being converted to condos just on the Brooklyn side of the Bushwick-Ridgewood border. Permits filed in December show that the developer, Home Zone Corp., is planning to add three stories to the existing one-story former church building at 198 Saint Nicholas Avenue and turn it into two buildings with three units each. (more…)


In March, Brownstoner revealed that David Cohen of Bushwick Realty Holding had purchased an entire block in Bushwick and was fixing up a long-derelict but attractive turn-of-the-last-century building on it. The developer was also revamping the former Menorah Home for the Aged and Infirm into a “nonprofit/philanthropic” with “sleeping accommodations” for 113 people.

Now YIMBY has more information about the development and what will happen to the rest of the block, which contains a large empty lot ripe for development. (more…)