Huge Apartment Building to Replace Fox Savoy Theater in Crown Heights
A 10-story apartment building with a 114 units, a synagogue, retail on the ground floor, and underground parking for 30 cars is going to replace the 1926 Neo-Classical Fox Savoy Theater in Crown Heights. A plan exam was filed on the 19th, said BuzzBuzzHome. Previous owner Charity Baptist Church sold the Thomas Lamb-designed building at 1515…
A 10-story apartment building with a 114 units, a synagogue, retail on the ground floor, and underground parking for 30 cars is going to replace the 1926 Neo-Classical Fox Savoy Theater in Crown Heights. A plan exam was filed on the 19th, said BuzzBuzzHome.
Previous owner Charity Baptist Church sold the Thomas Lamb-designed building at 1515 Bedford Avenue for only $575,000 last year, as our own Montrose Morris was the first to report. A demolition permit was issued in October.
The new building will have 90,806 square feet of space. The architect is Issac & Stern Architects, and the developer is Realty Within Reach.
114-Unit Project Replaces Fox Savoy Theatre at 1515 Bedford in Crown Heights [BuzzBuzzHome]
Building of the Day: 1515 Bedford Avenue [Brownstoner] GMAP
Maybe there’s a covenant deed restriction requiring that a religious use always be part of the property? We’re getting kicked out of a synagogue on Ocean Parkway to make way for a sale, but the new use has to be religious in perpetuity, so they sold to a Yeshiva. Not sure if this would apply to a Baptist church.
A few years ago I worked with a group renting space in a synagogue on Eastern Parkway in Crown Heights. Turned out the synagogue had factioned into 17 separate groups which had, oddly, all moved into former single to 3 family houses. They tore the the attractive synagogue down to build a clunky 20 unit apartment building…..
Agree about the adaptive reuse. I always liked this building.
twilson(a)flankonline(d)com
Your 100% right Omar….
If the developer fits out the church at $200 / foot (probably way too low for a church including soft costs) x 20k SF, it’s a $4.575MM deal.
Yes this looks fishy at first glance but if you apply the assumption the church is getting a brand spanking new 20,000 SF facility out of the deal AND $575k, not so fishy anymore. Why else would the developer put a church on the ground floor and not max out retail?