The Brooklyn Public Library is considering partnering with nonprofit Fifth Avenue Committee to replace its one-story Sunset Park branch library at 5108 4th Avenue with an eight-story building that will house a bigger library as well as affordable rental apartments. There would be 55 units, 54 of which would be affordable and one of which would be for the building super, DNAinfo reported.
All but 10 of the rentals would be priced at half the current market rates, according to an email DNAinfo received from the Fifth Avenue Committee. Studios would rent for $525 to $750 a month, and three-bedroom apartments would be priced at $796 to $1,249 a month. The remaining 10 units would be aimed at “moderate” income households and would range from $1,000 for a studio to $1,595 for a three bedroom.
The library would increase in size from 12,000 square feet to 17,000 square feet. The library would own its space as a condo; the rest of the building would be owned by the Fifth Avenue Committee. The project would cost about $25,000,000. (Presumably Fifth Avenue Committee would buy the property and finance the construction, minus the cost of the library condo, but the story didn’t go into those details.)
Library officials held a public meeting Monday with Community Board 7 at the library to discuss the plan. What do you think of it?
525-a-Month Studios Proposed for Redevelopment of Sunset Park Library [DNA]
Photo by Kate Leonova for PropertyShark