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
(iStock)

Mortgage requests surge ahead of Thanksgiving

Mortgage requests surge ahead of Thanksgiving
Vanke US managing director Kai-yan Lee, RFR’s Aby Rosen and 100 East 53rd Street (Photos via Foster + Partners and Getty)

Vanke seeks to remove RFR from Midtown condo project

Vanke seeks to remove RFR from Midtown condo project
Hippo founders Assaf Wand and Eyal Navon (LinkedIn)

Home insurance startup Hippo raises $350M

Home insurance startup Hippo raises $350M
Prices increased 6.6 percent year-over-year in September (iStock)

US home prices surged 6.6% in September

US home prices surged 6.6% in September
From left: Edison Properties CEO Robert Selsam, Ironstate Development's Michael Barry, Stellar Management founder Larry Gluck (LinkedIn; Gluck Family Foundation)

These developers could benefit the most from Soho’s rezoning

These developers could benefit the most from Soho’s rezoning
176 North 6th Street and 16 South Portland Avenue in Brooklyn (StreetEasy; Google Maps)

Brooklyn luxury market surges with nearly $73M in contracts

Brooklyn luxury market surges with nearly $73M in contracts
1045 Madison Avenue and 300 Central Park West (The Benson; Wikipedia Commons)

Manhattan luxury market shows signs of progress with 25 deals

Manhattan luxury market shows signs of progress with 25 deals
TikTok's biggest stars include (from left) Bryce Hall, Griffin Johnson, Addison Rae, Charli D'Amelio and Dixie D’Amelio (Getty)

Firm that manages TikTok party houses goes public

Firm that manages TikTok party houses goes public
arrow_forward_ios

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

Loading...