CW Realty plans luxury rental at controversial Vinegar Hill site

The developer paid $20M for the property, which had included a historic church that the previous owner razed years ago

TRD New York /
Jan.January 03, 2020 08:00 AM
CW Realty’s Cheskie Weisz  and a rendering of 251 Front Street (Credit: CW Realty and Think Architecture and Design via New York YIMBY)

CW Realty’s Cheskie Weisz  and a rendering of 251 Front Street (Credit: CW Realty and Think Architecture and Design via New York YIMBY)

A luxury developer is taking a crack at a controversial Vinegar Hill development site.

CW Realty paid $20 million for the largest undeveloped site in the Brooklyn neighborhood, The Real Deal has learned. JLL’s Brendan Maddigan and Ethan Stanton brokered the sale.

The Williamsburg-based CW Realty, led by Cheskie Weisz, plans to construct a five story, 59-unit luxury rental complex at 251 Front Street.

But it may not be easy. The seller, Tocci Brothers, tore down a historic church on the property years ago, and was thwarted in its most recent effort to build a luxury rental.

In 2017, Tocci Brothers had envisioned a 72-unit luxury rental building with 18 units set aside for low-and-middle-income tenants. The firm sought a rezoning for the site under the city’s Mandatory Inclusionary Housing policy, but when the local City Councilman Steve Levin decided not to back the project, the developer nixed the plans.

In 1992, Paul Tocci demolished St. Ann’s church, which is now a parking lot on the property. The historic church was designed by Irish-American architect Patrick Charles Keeley and built in 1860, featuring Gothic-style brick and a 130-foot tower. Community backlash following Tocci’s decision led the city to designate Vinegar Hill a historic district in 1997.

Despite Tocci Brothers’ unsuccessful effort — along with with a recent ruling by a judge against a developer’s rezoning attempt in Inwood — CW Realty said it is optimistic about building in North Brooklyn, where the firm has been busy.
It redeveloped 119-123 Kent Avenue into luxury apartments with a retail component, and completed construction nearby at 187 Kent Avenue, a 96-unit mixed-use development with 35,000 square feet of retail space.

CW Realty also recently purchased a massive site in Williamsburg with plans to build a 145-unit rental building and set aside 30 percent of the units as affordable.


Related Articles

arrow_forward_ios
Photo illustration of the Williamsburg Bridge (Getty, iStock) 

As Manhattan struggles, Brooklyn’s sales market is “booming”

As Manhattan struggles, Brooklyn’s sales market is “booming”
A rendering of 556 West 22nd Street (Photo by BASIS Independent Schools)

Private school to expand in former Chelsea Art Museum building

Private school to expand in former Chelsea Art Museum building
209 Dean Street and 315 Adelphi Street (Google Maps)

Sprawling Brooklyn townhouses drive week’s priciest deals

Sprawling Brooklyn townhouses drive week’s priciest deals
Council member Laurie Cumbo  and a rendering of the Bedford-Union Armory (Getty; Bedford Armory)

Student suspended after blasting lawmaker’s pro-development stance

Student suspended after blasting lawmaker’s pro-development stance
HelloFresh’s NYC HQ (Courtesy of Industry City, HelloFresh by Eric Laignel)

HelloFresh inks Industry City deal for content studio

HelloFresh inks Industry City deal for content studio
Nightingale’s Eli Schwartz and 111 Wall Street (Credit: Google Maps)

Nightingale, Wafra seek $860M to redevelop 111 Wall Street

Nightingale, Wafra seek $860M to redevelop 111 Wall Street
Greystone Development CEO Thomas Ryan and an image of the project (Courtesy of James Hooker, Greystone)

Greystone eyes $40M-plus for Park Slope luxury apartments

Greystone eyes $40M-plus for Park Slope luxury apartments
Clockwise from left: 950 University Avenue in the Bronx, 27-55 Jackson Avenue in Queens, 149 Pioneer Street in Red Hook and 416 Metropolitan Avenue in Williamsburg (Google Maps)

EB-5 investor snags Hunters Point resi development: Mid-market sales report

EB-5 investor snags Hunters Point resi development: Mid-market sales report
arrow_forward_ios

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

Loading...