Salvation Army is selling off another Brooklyn building. The former warehouse and stable at 22 Quincy Street is in contract as of yesterday, for an amount around $30,000,000, we hear. The ask was about that, and there were multiple bidders.
As far as we know, it is an off-market transaction. The buyer was not revealed.
Given the price, it will likely be made over into a residential building, our source speculated, despite its enormous footprint and relative lack of windows. The building is 70,158 square feet and is over FAR, so demolition is unlikely. It is not landmarked.
It is actually quite a beautiful building, with stripes, arches, and other decorative details in brown and orange brick. You have to look up to see it, because the ground floor exterior is covered in paint and metal rolling doors and has taken on a workaday, industrial appearance.
It was designed in 1899 by Francis Kimball for one of Brooklyn’s largest and most prestigious department stores, Frederick Loeser & Co. The top three floors served as the company’s warehouse. On the bottom floor was a stable for deliveries. Inside, ramps for vehicles still connect the floors.
Although the original stable doors are gone, the building retains its stable door openings and all its other features. It was a Building of the Day last year.
As is true of many converted former industrial spaces, a restored exterior would enhance the value and desirability of the units in this unique building. Light could be brought into the building through a central courtyard or core.
Photos below by Nicholas Strini for PropertyShark.