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
Sharif El-Gamal (Photo by Desiree Navarro/WireImage)

WATCH: Developer Sharif El-Gamal has Covid-19. But he’s one of the lucky ones

Prince Realty Advisors founder David E. Ash and 123 Hope Street (Credit: Google Maps)

HUBBNYC buys Williamsburg mixed-use building for $84M

Knotel CEO Amol Sarva 

Another huge round of layoffs for Knotel

Miki Naftali, Steven Witkoff and Ryan Freedman

TRD Talks: How developers are contending with coronavirus

The Gretsch at 60 Broadway in Williamsburg. (Credit: Douglas Elliman via StreetEasy)

Williamsburg pad hits market for almost $9M

Governor Andrew Cuomo (Photo by Spencer Platt/Getty Images; iStock)

Cuomo’s foreclosure, mortgage moratorium has no teeth

From left: Realogy's Ryan Schneider, Cushman & Wakefield's Brett White and Newmark Knight Frank's Barry Gosin (Credit: iStock)

Brokerage stocks plunge amid market turmoil

Mayor Bill de Blasio halted ULURP, stalling projects like 960 Franklin Avenue, Rikers Island and Industry City 

These projects could be held up by New York’s rezoning freeze

arrow_forward_ios
Loading...