New York
Development dreams? Laboz family has amassed $76M of property on Downtown Brooklyn block
Trending
Schwimmer plots 25-story resi tower in Downtown Brooklyn
Retail and more than 100 units included in the plans
150 Lawrence Street in Brooklyn (Getty, Google Maps)
There’s more build up coming to Downtown Brooklyn.
Solomon Schwimmer’s development firm, Twin Group Associates, filed plans for a 25-story apartment building at 150 Lawrence Street.
The proposed 101-unit residence will include more than 8,000 square feet of retail space on its ground floor, and span more than 80,000 square feet, according to initial filings.
The lot is situated between Willoughby and Fulton Street, where a 19,400-square-foot complex previously stood. The site included office space on three floors across the four addresses, along with a Goodwill, a Hibachi restaurant and a nail salon.
Twin Group bought the property from Ching-Tien Realty in March for $22.5 million. Marcus & Millichap’s Shaun Riney, Michael Salvatico and Robert Ferman brokered the deal.
Schwimmer’s firm filed plans to demolish the four-story building shortly after the deal closed.
The project would neighbor one of the largest assemblages in Brooklyn: Al Laboz’s 15 lots, which allow for 516,000 square feet of buildable floor area and include the air rights to make way for the borough’s tallest skyscraper.
Laboz has been slowly and quietly adding to his sizable chunk of the block since 1996, spending nearly $90 million through multiple deals to grow the parcel, according to public records.
Twin Group’s 150 Lawrence isn’t the only notable Brooklyn project it has in the works. The developer has laid the groundwork for a 143-unit complex at 130 Hope Street in Williamsburg, as well as sketched plans for a 250,000-square-foot mixed-use building in Crown Heights.
Read more
Development dreams? Laboz family has amassed $76M of property on Downtown Brooklyn block
New York
Flushing parcel, Downtown BK office building trade in midsize i-sales
New York
TRD Pro: NYC’s busiest areas for new building work
Schwimmer also bought two single family homes in Kensington at 575 and 581 Ocean Parkway for $5.7 million, and transformed the lots into a 41,000-square-foot midrise with 60 apartments.