So Long Telecom: 470 Vanderbilt Gunning for Residential
After sitting almost-vacant for years, the Carlyle Group-owned Atlantic Telecom Center at 470 Vanderbilt Avenue in Fort Greene will be going residential if negotiations with City Planning conclude without a hitch. Although details are sketchy at this point, we’re hearing that the D.C.-based private equity firm has recently brought in a new partner to reposition…
After sitting almost-vacant for years, the Carlyle Group-owned Atlantic Telecom Center at 470 Vanderbilt Avenue in Fort Greene will be going residential if negotiations with City Planning conclude without a hitch. Although details are sketchy at this point, we’re hearing that the D.C.-based private equity firm has recently brought in a new partner to reposition the property, which currently has some 700,000 square feet of unleased space. We’re also hearing that there could be some office, retail and possibly cultural space in the mix—in addition to several hundred rental apartments. No word on whether there will be an affordable housing component but we’re betting there will have to be to make the deal politically palatable. This could be just the boost this beleaguered stretch of Fulton Street needs. GMAP P*Shark
1:10 – so you come into the city to work, right? and then drive back to the suburbs in your SUV to put food on the table in your Levittown type subdivision, then watch tv on the couch till you sleep and back to work again the next day. There won’t be me me me in bklyn if the greedy developers and corruptible weaklings like you don’t contribute to the eyesores that you might have helped create. And you actually wish you live here. Am tempted to ask if you’re an obese SuVbarbanite, but I guess I just did.
Brooklynites… shakes head, such little people with little dreams and selfish to boot. It’s all about me me me in the most populous city in the US. Me, me, me!
Brownstoner must be the modern hang out for all the out of work, stay at home moms & dads, and retirees. Whine about the tree branch blocking the sun, whine about the building going up across the street, whine about the everything and all things.
Housing? Too bad Forest City didn’t buy it. If it redeveloped this property first, those people who have been or will be displaced but promised a unit in Atlantic Yards could have moved only once, instead of twice, maybe kept their children (if any) in the same school, et cetera.
12:17 more housing except for you. blogger a luddite? hello.
Ignore the perpetual haters that have nothing better to do than blog all day long with their fellow luddites. I welcome this news & the people it will bring and the people that will be able to live here. More choices & more homes for those willing to pay for it.
On a side note, the GMAP link is wrong.
Do you mean Carlyle will be late to the party in back-to-back bubbles? What an indicator!
I believe that AC has jumped the shark.
At least they will have parking. A while back I heard that BONY was going to take space in that building. Since residential is overbuilt and more office space is needed, why allow this conversion? I guess the location isn’t the best – but not the worst either.
I believe that this building is owned in part by either Geo. H.W. Bush or by Carlyle Group. Either way, neith of them need any money.