As asking rents continue to climb in Crown Heights, so do builders’ hopes. On Thursday, a Department of Buildings application was filed for a new five-story, 25-unit building with 17,089 square feet of residential space on a currently empty lot at 1705 Dean Street.
Public records cited by Brownstoner show that developer Empire State Management purchased the property and an adjacent lot at 1699 Dean Street for $879,114 in May. The architect listed on the filing is DJLU Architects.
With Crown Heights house flippers asking quadruple what they paid and trendy new nightlife establishments popping up, the rapidly gentrifying area should expect to see more large residential projects like this one coming its way. [Brownstoner] –Christopher Cameron