On Friday, Crain’s brought word (and the new rendering above!) of plans for the long-stalled site at 3rd Avenue and Bergen Street, which had been on the market for $7 million. According to the story, the site has new owners—the Naftali Group and AEW Capital Management—who intend to build an 85-unit, luxury rental. Here’s the scoop:
The new development is near the long-awaited Whole Foods market that was recently approved for construction at Third Street and Third Avenue, next to the Gowanus Canal. It will include a health club, a resident lounge, a courtyard and roof deck with views of both Brooklyn and Manhattan. The Park Slope area has attracted a number of institutional investors in recent months. In December, Invesco paid a reported $57.5 million for a 95-unit residential building called Arias Park Slope., which was conceived as a condo but was later converted into a rental. Currently apartments in the area are fetching per-square-foot rents close to $54—almost $10 more than the prices they commanded a year ago.
It’s true that the building will only be .7 miles from the coming Whole Foods. It will also be .3 miles away from the Barclays Center.
85-Unit Apartment Building Slated for Brooklyn [Crain’s]
Stalled Third Avenue Site on the Market [Brownstoner]
Development Watch: 316 Bergen Street [Brownstoner] GMAP
Rendering c/o ODA Architecture, via Crain’s