The Real Deal New York

North True Construction plans 196-unit Bed-Stuy project

Karl Fischer-designed building to hold apartments, rec space and “fresh food”
By Mark Maurer | December 30, 2014 05:20PM

North True Construction, an affiliate of the Hager family’s Brooklyn-based Cornell Realty Management, plans to build a nine-story, mixed-use building in Bed-Stuy.

The 172,000-square-foot property at 1123 Myrtle Avenue,Between Lewis Avenue and Broadway, would hold 196 apartments and more than 19,000 square feet of commercial space. Plans call for fresh food — potentially a grocery store or deli — and recreation space on the first floor and in the basement.

The apartments would occupy a total of nearly 162,000 square feet at the property. Karl Fischer is serving as the architect on this project, as well as a four-building residential development that North True is looking to bring to Crown Heights, as previously reported.

There is currently a one-story office-and-retail building on the site that is home to a New York 99 Cent and Up store, according to PropertyShark. The site offers 100,000 buildable square feet.

Records show the building last traded hands in 2010, when jeweler Simon Alishaev, under the entity 1111 Myrtle Avenue Group LLC, purchased the property for $11.4 million.

Isaac Hager, who runs North True, could not be reached for comment.