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The part of the Old Brewery that is becoming a huge complex (Franklin & Dean)
This discussion was created from comments split from: enormous building near franklin ave. shuttle stop.
This discussion has been closed.
Comments
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/
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.
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
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?
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....
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.
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.
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.
TerraCRG is trying to get bidders to line up...
Sadly, I don't think I have enough in my checking account to handle this.
See how they feel about $20.
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
aerial view:
present description: http://www.loopnet.com/xNet/Looplink/Profile/Profile.aspx?LL=true&LID=18393349&STID=terracrg
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
I expect apartments as nice as those about to lease at Franklin and EP.
...but far more of them.
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.
http://www.rew-online.com/2014/08/21/apartment-plan-for-crown-heights-brewery-building/
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.
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.
It is the first building in the area in a long time to take the bonus in exchange for the greater size.
http://www.oda-architecture.com/projects/608-franklin-avenue
"Project Name: 608 Franklin Ave
Location: Brooklyn, NY 11238
Project Size: 135,000 SF
Project Features: 120 new apartments (a mix of studio, one and two bedroom units), 24 targeted to moderate and middle-income families, 96 market price, two spacious, green roof terraces, gym and lounge.
Architecture: ODA
Interior Design: ODA"
http://a810-bisweb.nyc.gov/bisweb/JobsQueryByLocationServlet?requestid=1&allbin=3330651&allstrt=FRANKLIN AVENUE&allnumbhous=608
When the new building near Compare opens in the summer, the effect will grow further.
Crown Heights, this should go pretty quickly
The bricks from the structure holding the Dr Suess device will have some vaule as well.
...I can't imagine anything of value will be gleaned from the wooden structures.
They might be able to have all of the remaining structures demolished and the debris removed by June 1.
Some debris remains, but nothing is free standing.
photo: https://www.flickr.com/photos/alexanderjorgensen/18660403090/in/pool-gothamist/
Views of it from Dean St will be completely obstructed.
...when you look at it from Bergen, there will be a much larger building in the background.
one- and two-bedrooms. The builder will capitalize on Franklin’s hip
bars and restaurants by including 19,000 square feet of retail. Brooklyn
GC, led by Yoel Goldman, is the developer. The project will have 24
below-market units targeted to “moderate and middle income families,”
http://newyorkyimby.com/2015/07/tracking-affordable-housing-and-rezonings-in-crown-heights.html
Next two floors: http://newyorkyimby.com/2016/01/construction-update-608-franklin-avenue-crown-heights.html
note: photos not by me." 608 Franklin Avenue (also known as 1036 Dean Street) will hold 106 studio, one-, and two-bedrooms. They’ll be divided across 73,458 square feet of residential space, offering average units of just 690 square feet. The development will also include 24 below-market apartments, rented to “middle and moderate income families.” In exchange for the affordable units, the developer gets to build about 7,000 square feet larger."
(From above YIMBY article)
press: http://newyorkyimby.com/2016/05/eight-story-106-unit-residential-project-topped-out-at-608-franklin-avenue-crown-heights.html
"The structure will measure 125,350 square feet and its residential units should average 693 square feet apiece. Rental apartments are in the works, and configurations will include studios, one-bedrooms, and two-bedrooms. Twenty-four of the apartments will rent at below-market rates through the housing lottery. Amenities include a 56-car parking garage on the cellar and ground floors, storage for 63 bikes, a lounge, a fitness center, an common outdoor area on the second floor, and a rooftop terrace. Yoel Goldman’s Brooklyn GC is the developer, with ODA New York is behind the design. Occupancy can probably be expected by the end of the year."
photo: Tectonic
Not yet. But I will keep watching this site. This site continues to be one of the sites I believe will make a large impact on western Crown Heights: http://www.brooklynian.com/discussion/47007/the-big-18-developments-the-whynot-31-wont-stop-talking-about?new=1
Summary of what is known to date:
https://www.cityrealty.com/nyc/market-insight/features/future-nyc/see-new-photos-oda039s-striking-crown-heights-rental-1040-dean-street/8322
Photo from above link
Update: I walked by here last night. Finishes appear to be getting put in to many of the units. I saw mini-split AC units up in a lot of the apartments as of last night.