Bushwick developer Cayuga Capital Management has nabbed city permits to convert the former St. Mark’s Evangelical Lutheran Church into a 99-unit rental complex in the Brooklyn neighborhood.
The property at 626-628 Bushwick Avenue near Jefferson Street will remain the same height while gaining a fourth floor in the conversion. The city granted a permit in August to put up scaffolding on the site. Back in 2012, an alt-1 permit was disapproved. A partial vacate order is currently in effect.
In October, Cayuga sought an injection of capital to help pay off its investors and to raise funds for the church project, as The Real Deal reported. The developer asked $14 million for a 90 percent interest in its seven-building portfolio in Bushwick. [Brownstoner] — Mark Maurer