The Real Deal New York

Muss to test market for 56 condos at Sheepshead Bay tower

The rest of the 232 apartments at the 28-story project would be rentals

October 25, 2016 01:30PM
By Chava Gourarie

1501 Voorhies Avenue

Renderings of 1501 Voorhies Avenue in Sheepshead Bay

Muss Development and AvalonBay Communities filed a so-called “test the market” application for 56 condominium units at a proposed 232-unit residential tower in Sheepshead Bay, according to documents filed with the state Attorney General’s office.

The condos will occupy the top floors of what will be Sheepshead Bay’s tallest building, at 331 feet. Perkins Eastman is the architect of record for the glassy 28-story project at 1501 Voorhies Avenue, spanning 260,000 square feet of residential space and 15,000 square feet of commercial space.

If approved, the application would allow the developers to gauge buyer interest before submitting an actual offering plan.

The development site, an empty lot several blocks from the Sheepshead Bay, was completely flooded during Superstorm Sandy. An alternate address for the site is 1600 Sheepshead Bay Road.

The South Brooklyn neighborhood has recently emerged as a market for condos. Rybak Development & Construction TRData LogoTINY is planning a 90,000-square-foot building that would be the most expensive condo development ever in the neighborhood, with a projected sellout of $77.2 million.

Muss, a prolific outer-borough developer, bought the property for $16.2 million in 2014.

AvalonBay, a Virginia-based real estate investment trust, partnered with the city’s Department of Education earlier this year for a 1,100-unit mixed-use Upper East Side project.

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