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
Harry and Linda Macklowe (Getty Images, Andy Warhol Foundation for the Visual Arts, Inc./Artists Rights Society (ARS), NY, Sotheby's, iStock)
Macklowe art collection fetches nearly $1B at auction
Macklowe art collection fetches nearly $1B at auction
A photo illustration of charter bus company North Fork Express (left), Tritec Real Estate's planned Ronkonkoma Hub project (middle) and Tritec Real Estate's principal Robert Coughlan (EverybodyWiki/Orenawong, Tritec Real Estate, iStock)
Holdout threatens massive Long Island development
Holdout threatens massive Long Island development
Midwood’s John Usdan and 210 Douglass Street (Midwood)
Landlord in rush for 421a booted Gowanus business: lawsuit
Landlord in rush for 421a booted Gowanus business: lawsuit
Elad Group's Isaac Tshuva and1299 Third Avenue (Getty, Google Maps)
Elad picks up shovel-ready UES development site
Elad picks up shovel-ready UES development site
Charles Cohen of Cohen Brothers Realty Corporation with 975 Anderson Hill Road in Rye Brook, NY (Google Maps, Wikipedia)
Charles Cohen eyeing Rye Brook redevelopment
Charles Cohen eyeing Rye Brook redevelopment
(iStock, Illustration by Shea Monahan for the Real Deal)
As lawmakers race to electrify buildings, industry pushes back
As lawmakers race to electrify buildings, industry pushes back
Gov. Kathy Hochul (Getty, iStock)
With 421a dying, apartment project financing “has come to a stop”
With 421a dying, apartment project financing “has come to a stop”
Madison Realty Capital's  Zach Kadden with 364 Bay Street (LinkedIn, Loopnet)
Madison Realty Capital plans 100 small apartments, a NYC rarity
Madison Realty Capital plans 100 small apartments, a NYC rarity
arrow_forward_ios

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

Loading...