Atlantic Avenue Development Site Going, Going…
Brooklyn Streets, Carroll Gardens reports that a sweet little chunk of real estate fronting Atlantic Avenue and Pacific Street is set to be auctioned off on Valentine’s Day (the perfect gift for the developer in your life?). The auction consists of five contiguous parcels between Smith and Boerum Place; the largest of the parcels is…
Brooklyn Streets, Carroll Gardens reports that a sweet little chunk of real estate fronting Atlantic Avenue and Pacific Street is set to be auctioned off on Valentine’s Day (the perfect gift for the developer in your life?). The auction consists of five contiguous parcels between Smith and Boerum Place; the largest of the parcels is the parking lot fronting Atlantic, above, which is right next door to the 66-unit development planned for 252 Atlantic. The parcels fronting Pacific Street, meanwhile, are directly across the street from the 12-story tower slated for 262 Pacific. All together, the package consists of about 80,000 square feet of developable space, and the zoning allows for a residential-retail mix. Anyone care to guess how much this might fetch?
Brooklyn Streets, Carroll Gardens [BSCG] GMAP
Valentine [Curbed]
So how tall can these buildings be? 12 stories?
As for property value, Gertrude Stein might say: jail is a jail is a jail
10:54/10:57, the cells are not on the outside of the building; the walkways for the guards are.
p.s. Brooklyn Eagle reporting that no developer is seriously interested in ‘great idea’ of building next to house of detention(same block) in corrections proposal to double capacity of jail. But still some possibility of developing commercial along Atlantic on jail parcel (my guess won’t happen either).
Still – I find jail minor factor in area especially if all these other projects get built. But would be nice if court and jail employees didn’t park illegally, etc.
11:10 Should there be a discount for the FAR on plot B. As while it is “contiguous” (well, 25 feet anyway) it really doesn’t fit nicely into the remaining parcels. And is the part they don’t have on Atlantic to the left of Parcel A the bike shop?
11:07 – I agree
$300/FAR tops.
$250/FAR in the current market is probably more accurate.
10:57 AM- The jail is not vacant, it holds arrestees awaiting an appearance every single day, 365 days a years.
Just hoping it is sold and redeveloped soon.
I see work has started on lot next block west on Atlantic but nothing seems to be happening on this block on big lot along Boerum yet.
The lots containing Pacifico/Trout etc on Smith St. corner would also seem ripe for redevelopment.
Guess at price? maybe 20M – 25M tops.
10:54 here again. Before anyone mentions the obvious, yes, the jail is currently vacant but could be reopened at any time, and presumably will be at some point.
Until, of course, everyone who buys these units pickets to get rid of the jail that was there when they bought.