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The part of the Old Brewery that is becoming a huge complex (Franklin & Dean) — Brooklynian

The part of the Old Brewery that is becoming a huge complex (Franklin & Dean)

MOD
MOD
edited January 2015 in Crown Heights/Prospect Lefferts Gardens
This discussion was created from comments split from: enormous building near franklin ave. shuttle stop.
«1345

Comments

  • whynot_31
    whynot_31
    edited January 2015

    Oct 3, 2013

    Heads up Boys and Girls!

    A large part of the complex just went up for sale:  The northern portion that lines Dean. .

    <small>View Larger Map</small>

    You'll need $18M.

    If you take the affordable housing incentive, you'll receive over 100,000 BSF!

    If you just build market, you get around 75k BSF.

    http://www.terracrg.com/setups/Franklin_and_Dean.pdf

    Here are the addresses it shares with Franklin Avenue:

    606, 608, 610, 612, 614 Franklin

    Make sure to look at the pdf above to get a sense of which buildings we are talking about.

    Press: http://therealdeal.com/blog/2013/10/03/crown-heights-owner-plays-off-rezoning-lists-site-for-18m/

  • notsayin
    notsayin

    Brownstoner says the owner did NOT list the Brewery itself - the amazing old brick edifice on Bergen - and plans to convert it himself to residential and retail.

    http://www.brownstoner.com/blog/2013/10/massive-development-site-up-for-grabs-on-franklin-avenue-in-crown-heights/

    If this is true this is excellent news. Presumably the proceeds from the sale of the (architecturally) less-significant parcels on Dean Street can subsidize his costs to stabilize and renovate the brewery.

  • whynot_31
    whynot_31
    edited February 2015

    yes.

    This pdf shows which of the buildings are for sale:

    http://www.terracrg.com/setups/Franklin_and_Dean.pdf

    The big brick buildings that line Bergen are not for sale. The ones that line Dean are for sale


    We discuss the brick portions of the site here: http://www.brooklynian.com/discussion/45144/restoring-the-old-nassau-brewery#Item_1
  • notsayin
    notsayin

    If I can be slightly ignorant for a second here (and I know there's a separate "new Crown Heights zoning" thread...but in a sentence or two, what about the new zoning (which actually puts limits on new building heights, right?) - would likely have motivated the seller to list this property post zoning amendment?

  • whynot_31
    whynot_31
    edited December 2014

    While height restrictions were imposed, this lot was given the ability to build a greater Floor Area Ratio, which impacts buildable sq ft.

    The FAR can now be further increased if the developer chooses to participate in an affordable housing program.

    The definition of "affordable" that must be abided by isn't very strict by my definition. Hence, the developer might go for it....

  • vaportrail
    vaportrail

    Very good question notsayin. The FAR is the story but the big change doesn't depend on the inclusionary housing (affordable). The FAR for this lot went from 2.43 to 3.45 as of right or 4.6 if they add the affordable component.

    The trade off is that city planning dictates the building height (80') and the setback (R7A with the A being very important). http://www.nyc.gov/html/dcp/html/zone/zh_r7a.shtml

    No longer can someone build a similar building to that tower on St. Marks surrounded by a parking lot. The building has to line up with the walls of the others. So the city is basically telling developers to build buildings that are similar in mass, scale, and street experience to the historic buildings. The quid pro quo is that owners can build more on these lots now. Plus if they include affordable units (restricted to families makeing less than 80% of Area Median Income ~ $49k I think) they can build even more. Typically this is incentive enough for them to build the units.

  • vaportrail
    vaportrail

    Also forgot to mention that the new zoning doesn't have the same open space (usually a parking lot or grass) requirements as the old. This makes possible building denser buildings that are ultimately more marketable and attractive to retail.

  • whynot_31
    whynot_31
    edited April 2014

    I agree with everything vaportrail wrote.

    And will add that although it won't be ready until 2-3 years from now, I expect the first floor to provide some Class A commercial space.

  • whynot_31
    whynot_31
    edited April 2014

    TerraCRG is trying to get bidders to line up...

    Hi (real name),

    As you may already know, my team is marketing the mixed-use development site located at 608 Franklin Avenue on the corner of Franklin Avenue and Dean Street in Brooklyn. The property is zoned R7A which allows for up to 4.6 FAR with inclusionary housing bonus, giving the project a total of 100,875 buildable SF. The 21,929 SF site has 141 feet of frontage on Franklin Avenue.

    The Preliminary Bid deadline for the property is this Friday, November 1st @ 2 PM. If you are planning to bid, please email me for the full Offering Memo and feel free to give me a call to discuss.

    I look forward to hearing from you.

    Ofer

    Ofer Cohen | Founder & President | TerraCRG | 592 Pacific Street, Suite B | Brooklyn, NY 11217 |

    T: 718-768-6888 | F: 917-591-8206 | [email protected] | www.terracrg.com | @ofercohen

    TerraCRG is hiring http://www.terracrg.com/careers/



    Sadly, I don't think I have enough in my checking account to handle this.

  • ehgee
    ehgee

    See how they feel about $20.

  • whynot_31
    whynot_31
    edited October 2014

    Readers, this development is one of the Big Developments happening in western Crown Heights in 2014 that we will watching closely. To learn about the others, see this thread:

    http://www.brooklynian.com/discussion/44634/links-to-the-big-16-developments-in-western-crown-heights#Item_1

  • whynot_31
    whynot_31

    aerial view:

    present description: http://www.loopnet.com/xNet/Looplink/Profile/Profile.aspx?LL=true&LID=18393349&STID=terracrg

  • whynot_31
    whynot_31
    edited January 2015
    The brick buildings that line Bergen Street are not for sale.
  • nothinlikeabklyngirl
    nothinlikeabklyngirl
    I had no idea that there were lagering caves beneath the brewery. Too bad this event is sold out; it sounds pretty cool:*Sat., March 1, 2014: Cold Comfort: Lagers in the Historic Nassau Brewery Lagering Caves (Atlantic Ave @ Washington Ave, Brooklyn, $45, SOLD OUT)-Brooklyn was once a borough of blue-collar industry that made ships, Sweet'N Low, and, above all, beer. By the end of the 1970s, though, the brewing industry had vanished. Majestic brick structures fell into disrepair, and though the buildings may have since been renovated, many of the lagering tunnels sat untouched and sealed. Until now!In Crown Heights, the old Nassau Brewery has taken on a new life. At long last, the 1860s-era lagering tunnels have been uncovered, and stairs installed. Join host Joshua M. Bernstein (author of The Complete Beer Course and host of the NYC homebrew tours) as he heads down into the lagering tunnels; the group will be among the first people to venture underground in a century. Learn the history of the brewery and drink lagers by Brooklyn Brewery, KelSo, SingleCut Beersmiths, Bitter & Esters, several homebrewers and Maine's Bunker Brewing.Part of the 6th annual New York City Beer Week: http://news.hamlethub.com/ridgefield/events/41773-6th-annual-new-york-city-beer-week-february-21-march-2-2014-1390829299
  • whynot_31
    whynot_31
    edited April 2014
    ^very cool.   Sorry I missed it^


    Returning to repurposing, the listing for the site was last updated in early February and there is a large TerraCRG banner on the property, making me suspect that that no contract on the site has yet been signed.


  • whynot_31
    whynot_31
    edited April 2014
    Heads up!

    The link that describes the portion for sale was updated 6 days ago 
    and now reports "In Contract":


    Here we go!
  • whynot_31
    whynot_31
    edited April 2014
    @nothinlikeabklyngirl-
    Check out how the owners of the adjoining building (not part of the property that is for sale) is going to use the caves:

    http://m.us.wsj.com/articles/SB10001424052702304810904579505731188853114?mobile=y
  • nothinlikeabklyngirl
    nothinlikeabklyngirl
    Wow! Never could have imagined that in Crown Heights. But it's so cool that the tunnels are being used after 100 years.
  • whynot_31
    whynot_31
    edited April 2014
    In about 3 months, I expect the real estate press to provide us a rendering of what the "for sale" part of this site will become.

    I expect apartments as nice as those about to lease at Franklin and EP.

    ...but far more of them.
  • whynot_31
    whynot_31
    A little birdie has told me the property may officially change hands (i.e. "close") prior to the end of May.    
  • scrollie
    scrollie
    According to Brownstoner:
    An eight-story mixed-use building is coming to the corner of Dean and Franklin in Crown Heights, on the site of a former brewery. NY YIMBY first spotted new building applications for the 119-unit development at 1036-1042 Dean Street.The ODA Architecture-designed build will have 100,629 square feet total, including 81,880 square feet of residential space and 18,749 square feet of commercial.
    More at http://www.brownstoner.com/blog/2014/06/eight-story-building-to-replace-part-of-crown-heights-brewery/
  • whynot_31
    whynot_31
    For a sense of perspective, this new building will contain about TWICE the amount of retail SF, and residential SF as the new building at 341 Eastern Parkway.
  • whynot_31
    whynot_31
    edited July 2014
    I just did a quick search to see if renderings were up on the site of ODA Architecture yet.

    www.oda-architecture.com

    Nope, not yet. But I suspect they will be soon.

    BTW, the building may face Dean, not Franklin: 1037 Dean, as opposed to 608 Franklin.

    I expect a predemolition construction fence soon. This site and the garage on St. John's (near the shuttle tracks) look like they will be demolished this Fall.
  • whynot_31
    whynot_31
    Last week, the site seems to have been sold from one LLC to another for $17.5M


    No word on whether the new entity will design a new building, or just use the already developed plans.    
  • whynot_31
    whynot_31
    More press, with some more details:
    http://www.rew-online.com/2014/08/21/apartment-plan-for-crown-heights-brewery-building/
  • whynot_31
    whynot_31
    edited February 2015
    Another old photo of the site, standing on Franklin, looking west on Dean:

    image
    Published by Curbed today.

    Note, some of these brick buildings appear to have been replaced by other buildings. The "new" buildings are now in a state of disrepair.
  • whynot_31
    whynot_31
    edited October 2014
    Rendering:
    image

    Note, the front of the building will be on Dean, not Franklin. However, they are going to use 608 Franklin as its address.

    Details: http://newyorkyimby.com/2014/10/revealed-odas-608-franklin-avenue-crown-heights.html

    608 Franklin Avenue
    120 apartments, 20% below market rate.
  • crownheightster
    crownheightster
    It's beautiful.
  • whynot_31
    whynot_31
    edited October 2014
    It is able to be bigger than "as of right" as a result of taking the FAR bonus and agreeing to have 20% of the units be below market rate.

    It is the first building in the area in a long time to take the bonus in exchange for the greater size.

  • crownheightster
    crownheightster
    I love those windows. Its like one of those condo-conversions in Vinegar Hill.
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