Here are Brooklyn’s 5 biggest pending residential projects
Quintet of developments account for nearly $1B in investment
175 Third Street
Aby Rosen’s RFR Holding is behind the largest proposed residential project in development in Brooklyn. Spurred by Gowanus’ rezoning, it calls for a massive, mixed-use building stretching across half a city block.
The developer purchased the site for $115 million in 2018 and says it plans to create 815 apartments, 244 of them affordable, along the Gowanus Canal and across the street from Whole Foods. Public filings still show a 375-unit, 749,000-square foot project. Early renderings for the site reveal a sweeping, sail-like structure designed by Bjarke Ingels Group that maximizes green space via tree-lined, ramped sidewalks winding around the 20-story building.
The property will also include 137,900 square feet of commercial space, according to permits.
589 Fulton Street
The triangular corner sandwiched between Flatbush Avenue, DeKalb Avenue and Fulton Street in Downtown Brooklyn will be home to the borough’s next skyscraper.
Witkoff and Apollo Global Management’s The Brook will be a 51-story tower with 591 apartments with approximately 170 set aside as affordable. Early renderings from designer Beyer Blinder Belle reveal plans for the tower to sit atop 30,000 square feet of retail space and a 12,000-square-foot cellar.
The development pair took out a $388 million construction loan for the site from Bank of America in August.
1 Java Street
An 834-unit project in Greenpoint will take up an entire block between India Street and Java Street. The two-tower waterfront project, sitting on 2.6 acres, will also have 13,000 square feet for retail.
The site was purchased for $110.8 million by Aussie developer Lendlease and Aware Super in 2020. The pair have since taken out a $360 million construction loan for the project.
16 Dupont St
Developers Rockefeller Group and Park Tower Group are bringing a skyscraper to Brooklyn’s northernmost neighborhood, plotting a 40-story tower that will offer 378 units and 2,548 square feet of retail.
The Greenpoint site was purchased for $23 million in 2021, when it was an unassuming, low-rise transportation and utility facility. The developers have since taken out a $232 million construction loan for the multifamily, 365,651-square-foot project and began pouring the foundation in January.
254 Euclid Avenue
Permits were filed in early February for a 14-story residential project in Cypress Hills. Signing as Atlantic Chestnut II Associates Lihtc LLC, developer Phipps Houses scored a $225 million construction loan in December to enter the second phase of constructing its 436-unit affordable housing development.
The project, on a 409,000-square-foot lot, is one of three that the nonprofit housing developer has plotted out between Fulton Street and Atlantic Avenue, according to the Commercial Observer.