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December 12, 2007
Dermot Plans High-Rise Rental Near BAM
Yesterday the Post reported that the developer behind the Williamsburgh Savings Bank Tower condo conversion is planning to build a high-rise in the BAM Cultural District. This time ’round, however, the Dermot Cos. is eschewing condos in favor of rentals. The firm recently partnered with Grosvenor Investment Management to purchase the parking lot between Flatbush, Fulton and Rockwell Place, where they intend to start building in 2009. Taken together with the Son of Oro and the Avalon Myrtle, is it fair to say that rentals are the new condos?
Realty Check [NY Post] GMAP
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Comments
The lot shown in the photo is located where Flatbush, Third Avenue and Schermerhorn meet. That's the historic Baptist church in the background.
Posted by: guest at December 12, 2007 12:37 PM
Yeah! New towers...hhhh...It's going to look like Hong Kong/Kowloon soon!
Snore.
Posted by: guest at December 12, 2007 12:37 PM
...except for the topography. From both an urban design and planning standpoint, this seems like a good place for a "tower."
Posted by: guest at December 12, 2007 1:00 PM
I think 12:37 is spot on. I think the lot in question is the dog-leg shaped lot that goes through from Flatbush to the corner of Fulton and Rockwell.
Posted by: guest at December 12, 2007 1:30 PM
Since condos are also the are rentals, why bother with the pretense? Bring 'em on.
Posted by: guest at December 12, 2007 1:48 PM
Yep, this photo is the wrong side of Flatbush.
Posted by: guest at December 12, 2007 2:09 PM
Absolutely right. Replaced with the correct photo. Thanks.
Posted by: brownstoner at December 12, 2007 2:26 PM
So, what do I win? -- 1:30
Posted by: guest at December 12, 2007 3:10 PM
Is this the building that will block views at the new Rockwell Place lofts?
Posted by: guest at December 12, 2007 3:30 PM
According to ACRIS, in March this lot (block 2106 lot 19) also bought air rights from at least one neighboring parcel, particularly lot 24 (19-27 Flatbush Ave), which is 7540 sqft and has a 30,000 square foot building on it.
By my calculations this will allow a building of 210,160 square feet -- more if it gets zoning bonuses like plazas or affordable housing. And even more if it buys air rights from other adjacent lots (which many of them seem to have available).
Posted by: guest at December 12, 2007 3:33 PM
Is this across the street from that dollar dream? Is it true it will be a Union Market?
Posted by: guest at December 12, 2007 3:54 PM
this would only block penthouse views. a different building will eventually block the views of the units on the flatbush side.
Posted by: guest at December 12, 2007 4:03 PM
3:54: Yes, this is across Fulton from the now-closed Dollar Dreams (the building with the black roof at the top of the image).
4:03: What will block the Flatbush views? I don't know of any development projects right across the street there.
Posted by: guest at December 12, 2007 4:18 PM
Isn't there talk of a hotel going in across the street from Rockwell Place on the other side of Flatbush?
Posted by: guest at December 12, 2007 4:31 PM
4:03 here again - I'm a buyer at rockwell, originally told it was a hotel going up across flatbush which would effect those views, though with the angle of flatbush, you still have plenty of views.
However, i'm pretty sure i've seen the renderings for the building on either here or wired it said it was supposed to be a condo....just cant seem to find it right now.
Posted by: guest at December 12, 2007 5:06 PM
Somebody should tell Norman Oder at Atlantic Yards Report because this is one of the very few parkiing lots that Ratner's goons claimed will house the parking for the people filling the 15k+ seats at the Nets Arena (aka Barclays Arena.) This city is so immoral. Now tell me how this goon of a developer is going to get away with no parking spots as well? I'm sure he will and perhaps he is on here and can describe his also-sleazy tactics; ie: few spots for the hundreds of units at 1 Hanson.
Posted by: guest at December 12, 2007 6:45 PM
6:45: Parking spaces are not required by law in Downtown Brooklyn, and that's a good thing. This site is incredibly well-served by transit, with many lines within 1-2 blocks. There is no need for additional parking here.
(Unfortunately, large underground parking garages will be built right across the street as part of the BAM Cultural District plans. It's a shame to build more parking so close to transit, but that seems like a done deal.)
Posted by: guest at December 12, 2007 7:11 PM
Oh sure Virginia the Nets fans and the type of folks filling up an arena will all take mass transit. Tell me another one.
Posted by: guest at December 12, 2007 8:00 PM
8:00: The vast majority of people seem to take public transit to Madison Square Garden, and the proposed Nets arena (which has other major flaws, of course) has a similar level of transit access.
Posted by: guest at December 12, 2007 8:20 PM
Exactly. People will adjust to the conditions. If there are very little parking options, i.e. no parking spaces, then they'll take mass transit. No one is going to drive there if they know they will not find a place to park their cars.
In other words, less parking spaces is better.
Posted by: guest at December 13, 2007 9:25 AM
Still waiting for my prize -- 1:30
Posted by: guest at December 17, 2007 6:31 PM
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