New York

Luxury rental building to rise in Bed-Stuy

Vasco Ventures aiming to capitalize on surging home prices in nabe

Rendering of <a class="lavamap_link" style="text-decoration: none !important; color: inherit; box-shadow:none !important; pointer-events: none; cursor: default;" href="https://lavamap.com/property/416-Tompkins-Avenue-Brooklyn-NY-11216/3018390038-0" target="_blank" data-address="416%20Tompkins%20Avenue%2C%20Brooklyn" data-label="410-416%20Tompkins%20Avenue" data-url="https%3A%2F%2Flavamap.com%2Fproperty%2F416-Tompkins-Avenue-Brooklyn-NY-11216%2F3018390038-0" data-bbl="3018390038" data-blockValue="01839" data-lotValue="0038" data-zipcode="11216" data-bldgArea="2%2C400" data-bldgDepth="80" data-bldgFront="20" data-landUse="Mixed%20resi%20%26%20comm%20buildings" data-lotArea="2%2C000" data-lotFront="20" data-lotDepth="100" data-retailArea="800" data-resArea="1%2C600" data-officeArea="0" data-garageArea="0" data-strgeArea="0" data-factryArea="0" data-otherArea="0" data-bldgClass="S3" data-primaryZoning="R6A" data-commercialOverlay="C2-4" data-far="3" data-buildable="6%2C000" data-airRights="3%2C600" data-propertyNeighborhood="Bedford-Stuyvesant" data-latitude="40.6829212860111" data-longitude="-73.944134523248" data-moreList="%5B%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FviewOnMap.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F416-Tompkins-Avenue-Brooklyn-NY-11216%5C%2F3018390038-0%22%2C%22urlLabel%22%3A%22View%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2Fownership.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F416-Tompkins-Avenue-Brooklyn-NY-11216%5C%2F3018390038-1%22%2C%22urlLabel%22%3A%22View%20Ownership%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FleaseComps.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Ftherealdeal.com%5C%2Fnew-research%22%2C%22urlLabel%22%3A%22TRData%22%7D%5D" data-articleList="%5B%5D" rel="noopener">410-416 Tompkins Avenue</a>

Rendering of 410-416 Tompkins Avenue

UPDATED, Jan. 2, 3:41 p.m.: Bedford-Stuyvesant’s rapid gentrification isn’t showing any sign of slowing down, with Vasco Ventures planning a boldly designed 35-unit luxury rental building in the heart of the neighborhood.

The developer will erect the proposed L-shaped tower at 410-416 Tompkins Avenue. The building is set to contain primarily two-bedroom apartments, with a few one and three-bedroom units and a penthouse suite, according to Matthew Matilsky, a representative for Vasco.

Rents will range from approximately $2000 to $2,600, depending on the market, according to Matilsky. “We’re not wedded to that,” he said.

Building amenities include a top-floor gym with panoramic views of the Manhattan skyline, large balconies, a rooftop terrace, and 18 indoor parking spaces. Vasco has dubbed the development “Hancock Manor.”

“Before Bed-Stuy started getting red hot we realized where it was going,” Vasco founder and CEO Ephraim Vashovsky said in a statement. “But the market is getting flushed out, properties have nearly tripled in price over the past few years, and we’re giving residents — primarily young business people — the option to live in the area without buying.”

Vasco recently closed on the purchase of three adjacent structures and a vacant lot at the site, and is planning demolition within 90 days. The company projects 14-18 months until the building is completed and fully leased.

J Frankl Associates and M Architecture are both serving as architects on the project. — Tess Hofmann

 

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New York

Luxury rental building to rise in Bed-Stuy

Vasco Ventures aiming to capitalize on surging home prices in nabe

Rendering of <a class="lavamap_link" style="text-decoration: none !important; color: inherit; box-shadow:none !important; pointer-events: none; cursor: default;" href="https://lavamap.com/property/416-Tompkins-Avenue-Brooklyn-NY-11216/3018390038-0" target="_blank" data-address="416%20Tompkins%20Avenue%2C%20Brooklyn" data-label="410-416%20Tompkins%20Avenue" data-url="https%3A%2F%2Flavamap.com%2Fproperty%2F416-Tompkins-Avenue-Brooklyn-NY-11216%2F3018390038-0" data-bbl="3018390038" data-blockValue="01839" data-lotValue="0038" data-zipcode="11216" data-bldgArea="2%2C400" data-bldgDepth="80" data-bldgFront="20" data-landUse="Mixed%20resi%20%26%20comm%20buildings" data-lotArea="2%2C000" data-lotFront="20" data-lotDepth="100" data-retailArea="800" data-resArea="1%2C600" data-officeArea="0" data-garageArea="0" data-strgeArea="0" data-factryArea="0" data-otherArea="0" data-bldgClass="S3" data-primaryZoning="R6A" data-commercialOverlay="C2-4" data-far="3" data-buildable="6%2C000" data-airRights="3%2C600" data-propertyNeighborhood="Bedford-Stuyvesant" data-latitude="40.6829212860111" data-longitude="-73.944134523248" data-moreList="%5B%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FviewOnMap.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F416-Tompkins-Avenue-Brooklyn-NY-11216%5C%2F3018390038-0%22%2C%22urlLabel%22%3A%22View%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2Fownership.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F416-Tompkins-Avenue-Brooklyn-NY-11216%5C%2F3018390038-1%22%2C%22urlLabel%22%3A%22View%20Ownership%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FleaseComps.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Ftherealdeal.com%5C%2Fnew-research%22%2C%22urlLabel%22%3A%22TRData%22%7D%5D" data-articleList="%5B%5D" rel="noopener">410-416 Tompkins Avenue</a>

Rendering of 410-416 Tompkins Avenue

UPDATED, Jan. 2, 3:41 p.m.: Bedford-Stuyvesant’s rapid gentrification isn’t showing any sign of slowing down, with Vasco Ventures planning a boldly designed 35-unit luxury rental building in the heart of the neighborhood.

The developer will erect the proposed L-shaped tower at 410-416 Tompkins Avenue. The building is set to contain primarily two-bedroom apartments, with a few one and three-bedroom units and a penthouse suite, according to Matthew Matilsky, a representative for Vasco.

Rents will range from approximately $2000 to $2,600, depending on the market, according to Matilsky. “We’re not wedded to that,” he said.

Building amenities include a top-floor gym with panoramic views of the Manhattan skyline, large balconies, a rooftop terrace, and 18 indoor parking spaces. Vasco has dubbed the development “Hancock Manor.”

“Before Bed-Stuy started getting red hot we realized where it was going,” Vasco founder and CEO Ephraim Vashovsky said in a statement. “But the market is getting flushed out, properties have nearly tripled in price over the past few years, and we’re giving residents — primarily young business people — the option to live in the area without buying.”

Vasco recently closed on the purchase of three adjacent structures and a vacant lot at the site, and is planning demolition within 90 days. The company projects 14-18 months until the building is completed and fully leased.

J Frankl Associates and M Architecture are both serving as architects on the project. — Tess Hofmann

 

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