The Real Deal New York

Slate plans to convert W’burg warehouse into 126-unit rental

Development located off the L train expected to span more than 99,000 square feet

June 10, 2015 12:30PM
By Claire Moses

From left: 432 Rodney Street in Williamsburg and Slate Property Group's David Schwartz

From left: 432 Rodney Street in Williamsburg and Slate Property Group’s David Schwartz

Slate Property Group, a Midtown East-based development firm active in Brooklyn, is looking to convert a single-story industrial building at 432 Rodney Street in Williamsburg into a 126-unit rental project, according to a permit application filed with the Department of Buildings Wednesday.

“This particular area of Williamsburg is perhaps one of the most exciting,” Slate principal David Schwartz told The Real Deal. “We really like this submarket.”

The plans call for a seven-story, more than 99,000-square-foot development. A one-story, nearly 16,000-square-foot warehouse is currently located at the site.

Residential space will span 85,200 square feet. The new development will also include roughly 14,000 square feet of commercial space including ground-floor retail, according to the permit application.

Slate entered contract on the site earlier this year.

While the design — which is being done by Aufgang Architects’ Ariel Aufgang — isn’t yet finalized, Schwartz said the building will likely not be all glass, but that “something with more masonry feel is a bit more appropriate” for the industrial area.

The site, right off the Metropolitan and Lorimer subway stops on the G and L trains, used to be a Quaker Sugar Company distribution center.

It is unclear if the project will include any affordable units. Schwartz said that will depend on what happens to the 421a tax abatement program, which is set to expire next week unless the state Legislature votes to extend or amend it.

The “highly amenitized” building will likely include a roof deck, Schwartz said. Plans also include a gym and a recreation room.

“We’ve seen tremendous demand for our buildings in Williamsburg,” Schwartz said, adding that demand for apartments in the area far outpaces supply.

In the same area, Slate is developing a 96-unit residential development at 120 Union Avenue as well a projects at 66 Ainslie Street and 83 Bushwick Avenue. This will be at least the developer’s 10th project in the borough, according to data compiled by TRD.

Will Parker contributed reporting.