Here is Arker Companies’ latest Brooklyn development

Project at 64 Scholes Street will span 48K sf overall

TRD New York /
Jul.July 25, 2018 05:40 PM

The parking lot at 64 Scholes Street in Brooklyn (Credit: Google Maps)

Arker Companies will add to its massive Brooklyn portfolio with a 65-unit residential building in Williamsburg.

The eight-story building will go up at 64 Scholes Street, according to plans filed with the Department of Buildings on Wednesday. The project will span 48,000 square feet, split between 39,000 square feet of residences and 9,000 square feet of community space. All of the units will be designated as affordable housing for seniors, according to Arker. The Long Island-based developer plans to break ground by the end of the year.

Arker is buying the site, which is currently a parking lot, from Two Trees Management. Neither party confirmed what the sale price was by time of publication. Two Trees paid Verizon about $15.7 million for the property in 2016.

Separately, Two Trees and Arker are working together on a pair of 16-story apartments with 500 units in Boerum Hill at the New York City Housing Authority’s Wyckoff Gardens.

Arker took third place in The Real Deal’s recent ranking of most active Brooklyn developers with 1.12 million square feet of projects across the borough. It is working on several projects in East New York, including a 422-unit development at 894 Fountain Avenue, a 200-unit one at 10 Schroeders Walk and a 267-unit one at 911 Erskine Street.

Elsewhere in Williamsburg, Largo Investments filed plans on Tuesday for a project at 215 North 10th Street that will span 64,700 square feet with 30 apartments and 32,000 square feet of commercial space.


Related Articles

arrow_forward_ios

“I can talk about erections all day”: NAR tech consultant’s bizarre fireside chat

Council member Vanessa Gibson (Credit: New York City Council)

Commercial landlords face new fines as City Council passes anti-harassment bill

As House begins impeachment inquiry, here’s what we know about Trump’s Ukraine-real estate ties

Embattled Prodigy Network CEO Rodrigo Niño to step down

329 Broadway and JLJ CEO Jonathan Lewis (Credit: Syndicate Architecture via CityRealty, Google Maps)

Williamsburg developer lands $57M refi to complete 329 Broadway

The Watchtower building at 25 Columbia Heights, CIM Group’s Shaul Kuba (right) and LIVWRK’s Asher Abehsera (Credit: Wikipedia, CIM Group, and LinkedIn)

JPMorgan leads $335M refi for CIM and LIVWRK’s Watchtower renovation

Multifamily market still reigns in Queens, Blackstone balks after rent reforms and more of the biggest CRE trends right now

Real estate titans … and their toys

arrow_forward_ios