Brooklyn Bridge Park Selects Developers for John Street Apartment Building

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Brooklyn Bridge Park has selected two Brooklyn-based developers, Alloy Development and Monadnock Construction, to build apartments on park land at the old Con Ed site on John Street overlooking the water, Crain’s reported. The park announced its decision yesterday. The winning design is pictured above — though it could be modified later, as proposal designs often are. The request for proposals asked for a building with at most 130 units, and the developers are building 47, which likely means they will be large, luxurious, and aimed at an elite market. No word yet on whether the apartments will be rentals or condos. The building will be 12 stories high and 100,000 square feet in total. On the ground floor will be a branch of the Brooklyn Children’s Museum and 2,650 square feet of retail space. The 1.5-acre site will also include a lawn overlooking the East River and a tidal pool with pedestrian observation bridges. The building owners will rent the site from the park, and the rental income will help maintain the park. It will bring in more than $21 million in revenue, according to The Wall Street Journal. More than 60 percent of the 85-acre park is finished, said the paper. The developers have worked on other projects in the area, according to Crain’s, including 185 Plymouth Street and 192 Water Street. They are also developing the modern townhouses on Pearl Street. The John Street development is expected to wrap in winter 2015.

Brooklyn Firms Tapped to Build Dumbo Site [Crain’s]
Rendering by Alloy via Crain’s

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