About a year after signing a deal to develop Admiral’s Row in the Brooklyn Navy Yard, Long Island real estate firm Blumenfeld Development Group has been removed from the project.
The Brooklyn Navy Yard Development, a nonprofit that runs the city-owned site, said Blumenfeld did not fulfill its end of the contract, Crain’s reported, though CEO David Ehrenberg declined to elaborate. Under the deal, Blumenfeld was set to grant a long-term lease after it picked a supermarket to move into a 74,000-square-foot space. Construction was expected to start this year.
The six-acre, $100 million project would create a grocery store, an extra 79,000 square feet of retail, about 127,000 square feet of industrial space and the rehabilitation of two long-neglected historic buildings along Admiral’s Row, north of Downtown Brooklyn.
Blumenfield signed a memorandum of understanding with the Navy Yard last December, as The Real Deal reported.
“I’m hoping to get this project back on track,” City Council member Letitia James (D-Brooklyn) told Crain’s, adding that she was disappointed by the dismissal. [Crain’s] — Mark Maurer