This site is closed to new comments and posts.

Notice: This site uses cookies to function.
If you are not comfortable with cookies then please don't browse this website.

980 Atlantic Avenue, presently a parking garage near Grand Avenue, would like major makeover — Brooklynian

980 Atlantic Avenue, presently a parking garage near Grand Avenue, would like major makeover

whynot_31
whynot_31
edited February 2015 in Crown Heights/Prospect Lefferts Gardens
http://www.loopnet.com/Listing/18745474/980-Atlantic-Avenue-Brooklyn-NY/

It seems the landlord would like to get a tenant into the first floor space, which is 16,875 SF. The above floors would presumably still be used as a garage or warehouse. 
976 Atlantic, 
978 Atlantic, 
980 Atlantic
982 Atlantic
984 Atlantic

It is a massive building, totaling 65000 sq ft. This firm appears to be handling the upper floors:

http://www.kalmondolgin.com/news/kalmon-dolgin-affiliates-to-exclusively-market-loft-space-at-65600-sf-984-atlantic-avenue-in-brooklyns-prospect-heights/

Comments

  • whynot_31
    whynot_31
    edited February 2015
    Here is a rendering of what it could become:

    image

    What it presently looks like from the front:
    http://goo.gl/maps/J8Mhv

    What it presently looks like from the back:
    image
  • Dawndew
    Dawndew
    Well that will bring change to Atlantic Ave with foot traffic and more Muni meters. Goodbye auto body shops.
  • whynot_31
    whynot_31
    edited November 2014
    The autoshops in the M1 zone that do not own their property seem to be disappearing very quickly, and morphing into other uses that conform to the zoning: gyms, yoga, art studios, coworking spaces, retail, bars.

    The auto shops that DO OWN their properties will hang on a while longer; their owners may realize that on an annual basis they are earning more from appreciation than from fixing cars.

  • Dawndew
    Dawndew
    Or they could retool to fix Porsche super cars and Mercedes.
  • whynot_31
    whynot_31
    In my view, they are older guys. They are watching their retirement grow via land appreciation, and not putting a lot of $ into their businesses.

    My impression isn't that they are going to pass the businesses on to their sons or sell it to another mechanic.

    Instead, they will cash out by selling it to someone who will convert into a use that conforms with the zoning and the area's means and preferences.

    ....needless to say, if the city rezones Atlantic and the M1 Zone into residential, these folks stand to do really well.
  • pragmaticguy
    pragmaticguy
    Heard on 880AM this morning some triangular gas station lot in Brooklyn sold for $27 million (no typo) to build either a hotel or condos. Didn't say where but I'm thinking somewhere in that area.
  • whynot_31
    whynot_31
    edited November 2014
    This gas station in Downtown Brooklyn might be the one they talked about. It was listed yesterday for $27M:
    http://www.crainsnewyork.com/article/20141111/REAL_ESTATE/141119968/downtown-bklyn-mobil-station-hits-market-at-27m

    I am interested in seeing how much retail takes hold on Atlantic before its eventual rezoning to residential.

    Presently, there are a lot of restaurant supply companies between Vanderbilt and Utica. I expect them to go further east on Atlantic as they are priced out.

  • whynot_31
    whynot_31
    edited January 2015
    Brownstoner featured this building today. They have some good pictures of it:

    http://www.brownstoner.com/blog/2015/01/building-of-the-day-984-atlantic-avenue/#comment-1578201
  • whynot_31
    whynot_31
    edited February 2015
    With this big, modern residential building in progress across from it, the above rendering just might become a reality:

    image

    929 Atlantic Avenue

    This thread's building is on the right.   It says "Parking"
  • ehgee
    ehgee
    edited February 2015
    Or they could retool to fix Porsche super cars and Mercedes.
    I've seen the body shop at Grand and Bergen working on Bentleys and Audis, so there's already some movement in that direction.
  • eastbloc
    eastbloc
    Audi isn't exactly a luxury marque.

    Anyway, a lot of the auto businesses in the area seem to have been catering to the European car market, but this is definitely a downmarket service for second- and third- hand owners who cannot afford to go to the dealer for service. These autos depreciate rapidly, making them affordable status symbols until it's time to get service, which is where these shops have filled an economic niche.
  • whynot_31
    whynot_31
    It looks like they gave up on making this retail;   it is now being pitched as a potential space for a hotel.  

    http://www.loopnet.com/Listing/19005468/980-Atlantic-Ave-Brooklyn-NY/
  • whynot_31
    whynot_31
    edited August 2016

    over a year later, still on the market...

    http://www.loopnet.com/Listing/18745474/980-Atlantic-Avenue-Brooklyn-NY/

  • whynot_31
    whynot_31
    edited April 2017
    New windows now installed, as well as some other work.  I do not know if tenants have been secured.image
  • whynot_31
    whynot_31
    edited April 2017
    photo from google during construction. as well as one I found of it pre-construction


    Screen Shot 2017-04-12 at 7.05.57 PM984
Sign In or Register to comment.

Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Sign In

Categories