Bentley Zhao tests market for Prospect Park South’s largest condo project

The project would have 108 resi units plus parking

New York /
Feb.February 07, 2019 08:03 AM

Bentley Zhao and a rendering of 222 East 21st Street

UPDATED, Feb. 7, 10:17 a.m.: Bentley Zhao’s New Empire Real Estate Development is moving ahead with plans for his latest Brooklyn condo project — which would be the biggest residential project in the neighborhood of Prospect Park South.

The developer filed a “test the market” application for its project at 222 East 21st Street (or 563-571 Ocean Avenue), according to filings with the New York State Attorney General. The submission is not an offering plan, but an attempt to gauge market interest in a project before going forward with a full application.

The nine-story building is slated to have 108 residential units along with commercial space and 54 parking spaces, according to the filing. The residential space would span about 82,000 square feet, according to permits previously filed with the city’s Department of Buildings. Plans also call for indoor and outdoor recreation space.

New Empire bought the two vacant parcels for $11.5 million in March. SM Architects is the architect of record.

In a statement, New Empire said the project will take architectural cues from the context of the neighborhood — and will feature landscaped terraces and a fitness center. Construction has started and the project is slated to be complete in fall of 2020.

In 2017, the company also launched sales at the Onyx Square condo project at 2128 Ocean Avenue in Sheepshead Bay. 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.


Related Articles

arrow_forward_ios
Steven Mnuchin and 740 Park Avenue (Getty, Google Maps)
Steven Mnuchin’s $26M home finally finds a buyer
Steven Mnuchin’s $26M home finally finds a buyer
Robert Millard and 9 East 88th Street (MIT Corp, Google Maps)
Former Lehman exec lists Carnegie Hill mansion for $38M
Former Lehman exec lists Carnegie Hill mansion for $38M
April’s occupancy levels climbed to 61.6 percent, above March’s 60.9 percent. (iStock)
Demand for short-term rentals surges past pre-pandemic levels
Demand for short-term rentals surges past pre-pandemic levels
Cape Cod and the Jersey Shore suffered among the sharpest inventory declines. (iStock)
Here’s where homes virtually sold out in the pandemic
Here’s where homes virtually sold out in the pandemic
1384 Meadow Lane
The 20 priciest Hamptons sales this year
The 20 priciest Hamptons sales this year
Airbnb CEO Brian Chesky. (Airbnb, Getty)
Airbnb’s losing spree continues with $1B loss in Q1
Airbnb’s losing spree continues with $1B loss in Q1
Madison Realty principal Josh Zegen, Raphael Toledano with the properties at 325-329 East 12th Street and 223-235 East 5th Street (Madison Realty, Google Maps, Toledano by Michael McWeeney)
Madison Realty Capital closes on Toledano’s bankrupt East Village portfolio
Madison Realty Capital closes on Toledano’s bankrupt East Village portfolio
Manhattan and Brooklyn saw all-time records in lease signings in April (iStock)
April leases soared across city; so did concessions
April leases soared across city; so did concessions
arrow_forward_ios

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

Loading...