New information from the project's lender implies the obscure but architecturally significant building may be preserved and converted to luxury condos.
The building's beautiful brickwork and Venetian-inspired windows and stripes will likely not survive a plan to transform it into apartments.
Although the mixed-use building stands in Fort Greene, it more closely resembles, in scale and style, neighboring towers in Downtown Brooklyn.
More restrained than many ODA designs, the building has a patterned brick facade and dramatic window surrounds.
Of the affordable apartments, there are 15 studios, 20 one-bedroom apartments and six two-bedrooms.
It remains to be seen whether the rest of the retail space in the newly constructed building will be given over to a grocery store as promised.
An affordable housing lottery has opened up for 35 apartments in an eight-story building under construction on Lafayette Avenue in Clinton Hill.
An affordable housing lottery has launched in East Williamsburg for 10 units with studios starting at $833 a month.
Right now, it’s just a parking lot. But when 85 Jay Street went on the market two weeks ago, every developer in the city took notice.
Residential development at the site — which takes up an entire block — could increase Dumbo’s current population by 44 percent. And condos there could sell for more than those at the nearby Pierhouse — where apartments start at $2,850,000.
When we talk about 85 Jay Street, we’re talking about a big building. And even bigger money.
The New York Economic Development Corporation Thursday released renderings of the future Bedford-Union Armory transformation and announced that BFC Partners and Slate Property Group will jointly develop the project.