Slate plans to convert W’burg warehouse into 126-unit rental

Development located off the L train expected to span more than 99,000 square feet

TRD New York /
Jun.June 10, 2015 12:30 PM

Slate Property Group, a Midtown East-based development firm active in Brooklyn, is looking to convert a single-story industrial building at 432 Rodney Street in Williamsburg into a 126-unit rental project, according to a permit application filed with the Department of Buildings Wednesday.

“This particular area of Williamsburg is perhaps one of the most exciting,” Slate principal David Schwartz told The Real Deal. “We really like this submarket.”

The plans call for a seven-story, more than 99,000-square-foot development. A one-story, nearly 16,000-square-foot warehouse is currently located at the site.

Residential space will span 85,200 square feet. The new development will also include roughly 14,000 square feet of commercial space including ground-floor retail, according to the permit application.

Slate entered contract on the site earlier this year.

While the design — which is being done by Aufgang Architects’ Ariel Aufgang — isn’t yet finalized, Schwartz said the building will likely not be all glass, but that “something with more masonry feel is a bit more appropriate” for the industrial area.

The site, right off the Metropolitan and Lorimer subway stops on the G and L trains, used to be a Quaker Sugar Company distribution center.

It is unclear if the project will include any affordable units. Schwartz said that will depend on what happens to the 421a tax abatement program, which is set to expire next week unless the state Legislature votes to extend or amend it.

The “highly amenitized” building will likely include a roof deck, Schwartz said. Plans also include a gym and a recreation room.

“We’ve seen tremendous demand for our buildings in Williamsburg,” Schwartz said, adding that demand for apartments in the area far outpaces supply.

In the same area, Slate is developing a 96-unit residential development at 120 Union Avenue as well a projects at 66 Ainslie Street and 83 Bushwick Avenue. This will be at least the developer’s 10th project in the borough, according to data compiled by TRD.

Will Parker contributed reporting. 


Related Articles

arrow_forward_ios
Goldman CEO David Solomon and 1 Flatbush Avenue (Credit: Michael Kovac/Getty Images; Hill West Architects)

Goldman reactivates real estate platform in NYC with big DoBro buy

Goldman reactivates real estate platform in NYC with big DoBro buy
From left: David Lichtenstein, Nathan Berman and David Schwartz

Not so fast, vultures: Multifamily among better “food groups” poised to weather pandemic

Not so fast, vultures: Multifamily among better “food groups” poised to weather pandemic
Tonight on TRD Talks: Maintaining multifamily in a tumultuous time

Tonight on TRD Talks: Maintaining multifamily in a tumultuous time

Tonight on TRD Talks: Maintaining multifamily in a tumultuous time
Prince Realty Advisors founder David E. Ash and 123 Hope Street (Credit: Google Maps)

HUBBNYC buys Williamsburg mixed-use building for $84M

HUBBNYC buys Williamsburg mixed-use building for $84M
22 Quincy Street in Brooklyn (Credit: Google Maps)

Salvation Army rings bell on Clinton Hill warehouse sale for $29M

Salvation Army rings bell on Clinton Hill warehouse sale for $29M
ART: 51 Jay Street and from left: Martin Nussbaum, Dvir Cohen and David Schwartz

Condo owners at 51 Jay sue Slate Property Group, Adam America

Condo owners at 51 Jay sue Slate Property Group, Adam America
From left: Taconic Investment Partners' Charles Bendit,  Maddd Equities' Jorge Madruga and Slate Property Group's David Schwartz

Developers call Inwood ruling another blow in war against them

Developers call Inwood ruling another blow in war against them
1 Flatbush Avenue and the site at 570 Fulton Street (Credit: Google Maps)

Pair of DoBro properties up for sale by Slate, Meadow Partners

Pair of DoBro properties up for sale by Slate, Meadow Partners
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...