Brooklyn Tops List of 10 Largest Real Estate Projects

New project slated for Brownsville, Brooklyn at Howard Ave. Photo credit: Robert A.M. Stern Architects
New School project in Long Island City Photo Credit: FXFOWLE Architects

Many often-forgotten neighborhoods in the 5 Boroughs will be getting a face-lift with some impactful real estate projects in 2018, including East New York, Brownsville, Coney Island and and Kensington in Brooklyn, in addition to two projects in Mott Haven, Bronx. The Real Deal, ranked the top 10 projects in New York coming to NYC as of January of 2018.

Over the upcoming year, there are guaranteed to be more tremendous projects adding to this already prodigious list.

The largest project on The Real Deal’s list is 894 Fountain Avenue in East New York, Brooklyn, this is a 9 story, 95 feet tall, contain 422 residential units and span 411,320 square feet, split between 356,172 square feet of residential space and 55,148 square feet of commercial space. It’s designed by The Aufgang Architects and developed by Arker Companies, who specializes in low income housing.

Another large development is heading to an overlooked area in Brooklyn, in Brownsville. Located at 845 Howard Avenue, this is the 8th largest ranked by The Real Deal. The eight-story building will be called Edwin’s Place and span 98,800 square feet overall, including just over 3,000 square feet of commercial space. 47 of the 126 residential units will be for low income housing. Robert A.M. Stern Architects is the architect and Breaking Ground (a nonprofit) is developing the Brownsville project.

The 2nd and 7th largest projects are both in the lower income Mott Haven section of the Bronx. Treetop Development’s plans for a 14-story, 300-unit mixed-use building at 445 Gerard Avenue, The Real Deal reported. The specs are 146-foot tall and 245,327 square feet, which includes 23,000 for commercial space. Woods Bagot will design the building and Treetop is the developer.

Treetop will also develop directly across the street from their larger project at 445 Gerard Ave. The 7th largest is at 414 Gerard Ave; 11 stories tall with 134 residential units. It will be 92,000 square feet with 87,494 for residential space, including a low income split like Treetop’s other Gerard Ave plans.

Brooklyn tops the list with a total of 5 of the largest projects.

The 3rd largest is in Coney Island at 2006 Surf Ave. Developer iStar’s plans for a 20-story, 216-unit apartment building which will span 187,932 square feet. The building will include about 9,000 square feet of commercial space, and the Stephen B. Jacobs Group will design it, The Real Deal reported.

The 5th Largest upcoming project announced for January is also in Brooklyn, this one in Kensington. The location is 72 Caton Place, the building will be retail project, a 13,887-square-foot self-storage site. JEMB reality is developer and it will be 8 stories.

Also, in Brooklyn is the 10th ranking, which will be a 62,000 square foot mixed use building at 2251 Nostrand Ave in East Flatbush. This 6-story building will be split between 31,527 square feet of commercial space, 424 square feet of community space and 30,008 square feet of residential space, with 32 residential units; A&H Acquisitions is the developer.

Queens, has the 8th and 9th largest development for January. The first Queens project is at 30-14 Crescent Street in Astoria, a 7 story, 70 feet tall office space, the Church of the Redeemer is developing & JWC Architect Engineer is designing. The second Queens project to make the list is a project from the NYC School Construction Authority for a new school in Long Island City which will be 75,093 square feet & stand four stories and 65 feet tall, according to The New Deal.

Manhattan only had one large project announced for January, which is a 46-story, 123-unit condo building at 30 East 29th Street ranks as the 4th largest. The CetraRuddy-designed project will stand almost 600 feet tall and span about 170,000 square feet. It’s an expensive $98.7 million project developed by Rockefeller Group and Mitsubishi Estate. Mitsubishi Estate has a 75% stake in the project, according to Real Deal.

By Jared Evan

 

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