Bentley Zhao’s New Empire Real Estate Development is planning an 115-unit Residential Building On Ocean Avenue in Prospect Park South, according to a permit application filed with the city Thursday.
The building would span 82,376 square feet, including just over 500 square feet of community space and 58 parking spots, the filing shows. The address for the development is 563-571 Ocean Avenue or 222 East 21st Street. New Empire bought the two vacant parcels for $11.5 million in March. SM Architects is the architect of record.
New Empire is based in Sunset Park, and Zhao also operates the New Empire EB-5 Regional Center from the company’s Third Avenue headquarters. In March, New Empire filed an offering plan for a 56-unit condominium project a 2128 Ocean Avenue in Sheepshead Bay with the New York state Attorney General’s office Zhao is shooting for a $43 million sellout at the development.
Sign up for China Watch for weekly emails on Chinese real estate investments.
A representative for New Empire could not be immediately reached for comment.
(To view a monthly chart of accepted condo developments in Brooklyn, click here)