Apex Investments Plans Condos In Prospect Lefferts Gardens

A gas station in Prospect Lefferts Gardens could soon give way to a sizable apartment project.

Apex Investments Real Estate filed plans for a 224-unit housing project at 530 Utica Avenue, the Commercial Observer reported. The 200,000-square-foot plan, filed with the Department of Buildings, is at the site of a Speedway fuel station in the Brooklyn neighborhood.

The 15-story building will have 16 units on each floor above the ground level, which will include retail and business space. The property will also include residential amenities such as a tenant lounge, laundry facilities, outdoor space and a community space.

Demolition permits don’t appear to have been filed. Speedway acquired the site more than a decade ago for $3.6 million, as part of a big push into the East Coast after acquiring much of the Hess Corporation. Speedway appears to still own the parcel, according to property records.

GF55 Architects is listed as the architect of the project.

Spokespeople for Apex and GF55 did not respond to requests for comment from the Observer.

Local developer Apex has been busy in recent months. In November, Apex paid $26.4 million for a five-story former school at 160 West 74th Street, which was once home to Calhoun School’s lower school. The seller was Bayrock Capital. The firm purchased the property in 2023 for $14 million and had intended to convert it into a women’s shelter.

Elsewhere in Prospect Lefferts Gardens, NBA superstar Giannis Antetokounmpo recently purchased an eight-story, 28-unit apartment property for $14.1 million. The deal for the property at 111 Clarkson Avenue breaks down to $504,000 per unit. The sellers were developers Seth Brown and Richard Ludwig.

Antetokounmpo’s portfolio also includes an apartment building in a suburb of Milwaukee, which he purchased a month earlier for $11.4 million.

— Holden Walter-Warner