Blue Zees targets $59M condo sellout in
East Williamsburg

Developer began work on 147 Hope Street in 2015

New York /
Jan.January 02, 2018 12:00 PM

436 Keap Street (Credit: City Realty)

Blue Zees Real Estate is shooting for a total sellout of $59.3 million at its East Williamsburg condominium project, an offering plan filed late last month with the New York State Attorney General’s office shows.

The developer is at work on a 38-unit building at 147 Hope Street, also known as 436 Keap Street, where it first filed construction plans in February 2015. The six-story building has topped out and is nearing completion, photos posted on CityRealty in September show. But it looks like the developers did pull back on unit count — Blue Zees’ website still lists 50 residential units for the project. Alexander Compagno Architecture is the designer.

The average new development condo price in Northwest Brooklyn was about $1.5 million in the third quarter of 2017, according to a report from appraisal firm Miller Samuel. Blue Zees’ units at 147 Hope Street will average around $1.6 million.

Jay Stockwell, a principal of Blue Zees alongside Steven van der Zwan, was not immediately reachable for comment.

This isn’t the developer’s first go at Williamsburg. In 2012, it completed construction on the Williamsburg Cinema at 216 Grand Street. At 283 Grand Street, Blue Zees is planning a boutique “Passive House” condo project, according to its website.


Related Articles

arrow_forward_ios
45 South Grove St in East Orange (Rendering via Progress Capital)
Hero Construction lands $20M loan to build East Orange apartments
Hero Construction lands $20M loan to build East Orange apartments
The rise of e-commerce, fueled by the pandemic, has created unprecedented demand for cardboard-producing facilities. (iStock)
Cardboard demand could fuel an industrial real estate boom
Cardboard demand could fuel an industrial real estate boom
Revitalization Initiatives for the Hampton Bays (South Hampton Town Gov.)
NIMBYs plague rezonings in the Hamptons, too
NIMBYs plague rezonings in the Hamptons, too
Atlas Hospitality Managing Member Raj Guru and Vinod Chand with 711 Seventh Avenue (Atlas, Google Maps)
Atlas plans 401-room hotel at 711 Seventh Avenue
Atlas plans 401-room hotel at 711 Seventh Avenue
Nearly $10M settlement for “cooked” SF condo owners
Nearly $10M settlement for “cooked” SF condo owners
Nearly $10M settlement for “cooked” SF condo owners
Soho’s zoning madness, such as artists-only lofts and a ban on ground-floor retail, may finally change with a proposed rezoning.
The shopping district that banned retail: Soho’s incoherent zoning
The shopping district that banned retail: Soho’s incoherent zoning
L&L Holding’s David Levinson and Columbia Property Trust's Nelson Mills with a rendering of 261 11th Avenue (L&L, Columbia Property Trust, Terminal Warehouse)
L&L, Columbia Property Trust land $1.3B loan for Chelsea office project
L&L, Columbia Property Trust land $1.3B loan for Chelsea office project
Towns and cities have begun restricting housing construction to save their supply of H2O. (iStock)
“Why are we building houses if we don’t have enough water?”: Towns react to scarcity
“Why are we building houses if we don’t have enough water?”: Towns react to scarcity
arrow_forward_ios

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

Loading...