The Real Deal New York

Fort Greene / Clinton Hill neighborhood news

  • 525 Clinton Avenue (credit: PropertyShark)

    The would-be condominium project at 525 Clinton Avenue has found new life as a rental building, Brownstoner reported. The 33-unit building will have prices that range from $2,925 for a one-bedroom to $5,200 per month for a three-bedroom.

    Originally, the building was set to have three condo units per floor — spanning from 780 square feet to 2,100 square feet, and ranging in price from $650,000 to $950,000. The project was begun by Karnusa Equities. [more]

  • A strip of Fulton Street in Fort Greene

    A meeting hosted by the Fort Greene and Clinton Hill business improvement district showed that there is discord among residents and business owners over what an improvement would entail, the Local reported. Possible changes to Brooklyn’s Fulton Street, between Ashland Place and Classon Avenue — the addition of bike lines and pedestrian zones, for example — was the focus of the preliminary gathering. But the discussion eventually turned to the cost of rent and gentrification. [more]

  • The Landmarks Preservation Commission has rejected a proposal to landmark the Lefferts Place Historic District in Clinton Hill, Brooklyn, the Local reported. The area between Washington and Bedford avenues and Fulton Street and Atlantic Avenue would have been the district’s boundaries. [more]

  • A rendering of the approved project at 313 Gold Street and the vacant lot (credit: Massey Knakal)

    The vacant Fort Greene lot slated for a high-rise companion to the Oro condominium is for sale, Brownstoner reported.

    The site, at 313 Gold Street, was planned to be built to 35 stories and 214 units and to be called Oro 2 by the same developers behind its predecessor, the 40-story Oro at 306 Gold Street[more]

  • Brooklyn Grange in Long Island City

    Long Island City-based Brooklyn Grange will expand its Queens rooftop garden operation to the Brooklyn Navy Yard, the New York Post reported, but with no specified date for when the move will occur.

    The farm will occupy a 45,000-square-foot rooftop plot on a building close to Flushing Avenue and Cumberland Street, which will be fully covered in soil to grow fruits and vegetables. A greenhouse will also sit atop the roof space. Below, the farm will host regular farmer’s markets to sell fresh ingredients to local residents and businesses. [more]

  • From left: Cynthia and Arthur Wood and the Broken Angel home in Clinton Hill (right)

    Clinton Hill’s most famous private home, the Broken Angel house at 4 Downing Street, has been scheduled to hit the foreclosure auction block March 29,  according to data from PropertyShark.com.

    The 10,400-square-foot property will be auctioned off with a lien of $2.7 million along with an adjacent 1,996-square-foot lot at 8 Downing Street, after lender Madison Realty Capital filed to foreclose on the building in 2008. [more]

  • From left: 90 Clermont Avenue, Ofer Cohen and Melissa DiBella of TerraCRG

    The sale of a beleaguered seven-unit rental building at 90 Clermont Avenue in Fort Greene has closed for $2.6 million, according to TerraCRG, the firm which was marketing the building on behalf of Eastern Capital, the bank that foreclosed on the property in 2008.

    The building was purchased by a private developer operating via an LLC named Abraham Equities. His identity was not immediately clear. [more]

  • Sen. Velmanette Montgomery and 55 Hanson Place (building credit: PropertyShark)

    State officials are considering selling 55 Hanson Place, according to the New York Daily News, as they’ve told local politicians that a private developer has expressed interest in purchasing the property.

    The 13-story, 300,000-square-foot office building, between Elliot and Fort Greene places in Fort Greene, is known as the Shirley Building and is home to the Department of Taxation, the Office of Children and Family Services and other state agencies, but officials say the space is underused. As part of a larger plan to cash in on its real estate holdings, the state is exploring the sale. [more]

  • Admiral's Row and a rendering of the plans for the site

    Admiral’s Row in the Brooklyn Navy Yard has finally been transferred to the city, the New York Times reported, clearing the way for the 74,000-square-foot supermarket residents of the three nearby housing projects have long coveted.

    Nine of the 11 homes that comprise Admiral’s Row, on the edge of the Fort Greene neighborhood, have fallen into such disrepair since the Navy Yard was closed in 1966 that even preservationists haven’t attempted to save them. [more]

  • Promised to be a driver of the Park Slope, Fort Greene and Clinton Hill economy, the Atlantic Yards construction project has retail landlords salivating but is leaving developers and residents wary, the New York Post reported.

    The Barclays Center, which will open next September, is driving up retail rents in the area. Many landlords have allowed leases to expire and spaces to stay vacant in recent years in anticipation of higher rents sure to come with the new arena. Retail rents in the area range from $85 to $175 per square foot, with the high-end marking the top of Brooklyn pricing. … [more]

  • The New York City Human Resources Administration has inked a 20-year lease for 400,000 square feet at a 10-story building at 470 Vanderbilt Avenue in the Fort Greene area of Brooklyn, the New York Times reported, in what is, so far, the biggest real estate deal in Brooklyn in 2011 and brings the building to 85 percent occupancy.

    “The building is huge — an entire city block — and it has basically sat vacant and derelict for years,” said Steven Hurwitz, the vice president of acquisitions and developments at GFI Development, the company that owns the ground lease. It was not immediately clear how this lease fits in with the administration’s previously reported plans to move into 4 World Trade Center.[more]

  • The independent Brooklyn Waldorf School is opening in an unused building called “Claver Castle,” at 19 Claver Place just across the street from the historic St. Peter Claver Roman Catholic Church in Brooklyn, the first African-American Roman Catholic Church in the borough. As previously reported, the school has been scouting new spaces since it outgrew a space behind the Brooklyn Academy of Music building in Fort Greene, Patch said. “We were so cramped in the old space. Now everyone is happy,” said Katie Roth, assistant to the school’s director. “This building is a dream come true.” The school spent $4.5 million, funded by bank loans, parent donations and fundraising, to renovate the space. Teachers worked with architects to design a new interior layout to best work with the school’s schedule during the day. [Patch]
    [more]

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    Atlantic Terrace and Magnus Magnusson of Magnusson Architecture and Planning

    While many developers utilizing public subsidies to build a new condominium deliver the bare minimum number of affordable units required by law, the partnership of developers behind Atlantic Terrace in Fort Greene took the opposite route. The New York Times reported that they offered only as many market-rate apartments in the 80-unit condo at 212 South Oxford Street as was needed, a total of 20, to maximize the number of affordable apartments they could offer.

    The developers — non-profit Fifth Avenue Committee, architecture firm Magnusson Architecture and Planning and builder Mega Contracting — envisioned an apartment complex where affordable units were interspersed among market-rate ones.

    [more]

  • The developer that purchased the 40,000-square-foot vacant lot at 33-44 Putnam Avenue in Clinton Hill for $2.345 million last month isn’t about to waste any time on the investment. According to Brownstoner, construction has already begun at the site, between Downing Street and Irving Place, where permits filed with the Department of Buildings show that a 75-foot-tall, Karl Fischer-designed residential project is on deck. Sources say that the New Jersey-based developer is planning to fill the seven-story building with 30 affordable housing units, and a sign on the outside of the construction site indicates that work is slated for completion by December. [Brownstoner]

  • The long-rumored sale of GLC Group’s 16-story condominium building in Clinton Hill has closed, as a real estate investment group from New York City and Northern California doled out $21 million for the Karl Fischer-designed tower, the Wall Street Journal reported. Rumors of a potential sale surfaced in March, when 35 to 40 percent of the 49 units at 163 Washington Avenue were in contract to be sold for between $250,000 and $767,000. But GLC Group, which purchased the site in 2005, returned buyers’ contracts and entered into an agreement with the investment group, which planned to rent the units. … [more]

  • Six unsold penthouses at One Hanson Place, the 37-story Fort Greene tower formerly known as the Williamsburgh Savings Bank, are going to be auctioned off on May 15. According to the Wall Street Journal, the sale should net the development team Canyon-Johnson, of which basketball legend “Magic” Johnson is a partner, substantially more than $10 million. One apartment, a four-bedroom duplex unit with a 2,900-square-foot terrace was recently listed for $5.8 million, while the remaining five full-floor units were each listed for at least $3.7 million. Canyon Johnson acquired the building from HSBC Holdings in 2005, and began putting the 179 apartments on the market in 2006, and all but the aforementioned six units sold. … [more]


  • 70 Lefferts Place (credit: PropertyShark)

    A Civil War-era landmarked house at 70 Lefferts Place in Clinton Hill that was operating as a hostel earlier this year has since been vacated. The Department of Buildings issued a partial vacate order and full stop work order for “illegally convert[ing] rooms into transient hostel without providing required means of egress, fire alarm,” Brownstoner reported. Earlier this week, the owners of two Upper West Side single-room occupancy buildings — Dexter House and Hotel Alexander — that also serve as hotels filed suit to block a state law which would ban apartment rentals of less than 30 days. The law was passed last summer and is set to go into effect May 1, amid complaints from hotel operators. [Brownstoner]
    [more]

  • Greene-Ville Gardens, an organic grocery store is now open on the ground floor of the Clermont, a six-story, 52-unit rental development at 150 Clermont Avenue in Fort Greene, Brooklyn, BRP Companies announced. Carousel Children’s Center, a daycare center, is set to open in February. “[Greene-Ville Gardens and Carousel Children’s Center] provide much-needed services in our district, including cutting edge green elements and a beacon where children can learn and thrive in a location that is close to home,” said Council Member Letitia James. TRD[more]

  • A state-funded bail-out of a long-delayed Brooklyn residential project late last month, days before a Dec. 31 tax exemption deadline, will allow developers to begin building a 347-unit tower at 29 Flatbush Avenue, a previously empty lot at Rockwell Place and Fulton Street in Fort Greene, the Brooklyn Paper reported. The project, a 42-story tower developed by the Dermot Company and being designed by Ismael Leyva Arhcitects, was in danger of collapsing during the financial crisis in 2008, until developers made a last-minute deal with the state — called a 421-a subsidy — to set aside 65 units at below-market rents in exchange for $90 million in subsidies. That deal would have been void if developers didn’t produce some affordable units by Dec. 31. … [more]

  • The Brooklyn Academy of Music will break ground tomorrow on its $45 million Richard B. Fisher Building, a theater and education facility at 321 Ashland Place in Fort Greene that is slated for completion in 2012. The organization is looking to raise about $4 million over the next two years to finish the project, for which most of the funding was secured before the recession, President Karen Brooks Hopkins told the Wall Street Journal. … [more]

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