Kiss the McDonalds on Fourth Avenue at 1st St goodbye

275 Fourth Avenue, Brooklyn

It is for sale, and will likely become a big residential building:

http://www.terracrg.com/setups/275_Fourth_Avenue.pdf

Re: Loss of McDonald's...will anyone care?

I won't miss McD's, but if there is demand, they may even build a McD's on the ground floor retail space of the new apartment building.

Nothing like stinking up a new building with the smell of rancid oil and grilled burgers. My son worked for Mickey D's from 14-19 and left while he was a manager. No matter what we did and how much we washed his uniform we couldn't get the smell of the oil out of his clothes. I just called him Fry Boy.

Being that the neighborhood is rapidly becoming market rate apartments and condos, I think that many of the auto shops and fast food places that presently fill the strip are no long for this world.

They are asking $12M for this site.

...I don't even want to think about how many combo meals the own of this location would have to sell to earn $12M.

The owner should retire someplace nice.

Unless, it's a company store. In which case Mickey D's will just get richer.

I imagine the Prospect Heights location at Atlantic and Vanderbilt will be sold soon.

A little less litter.

A little less carbs and salt.

Sold!

TRG wrote: Hi (realname),

I hope you’re having a nice summer so far. I wanted to give you a quick update. My team just closed on the sale of the corner development site located at 275 Fourth Avenue in the Park Slope neighborhood of Brooklyn for $14,800,000, almost $3,000,000 above the asking price. The sale represents a record price for a development site on Fourth Ave at $246 per buildable SF.

The 100 ft x 100 ft corner site currently occupied by a McDonalds Restaurants, is residentially zoned and allowing for a total buildable of approximately 60,200 SF and is located on the prime Park Slope Fourth Avenue corridor on the corner of Fourth Avenue and First Street.

My team and I put the property in contract in just under 30 days. Throughout the formal bid process, we’ve had 30 bids, all from very qualified developers. The superb Park Slope location coupled by the strong residential market and a serious lack of quality site inventory in the area, enabled us to maximize the value of the property.

Expect the location to be closed soon.

"Could I get a blue plywood fence, and an excavator, to stay?"

Luxury rentals on the way.

They sound like they are going to be nice places to live:

http://www.dnainfo.com/new-york/20130730/park-slope/high-end-apartments-replacing-park-slope-mcdonalds-report-says

Luxury rentals on the way.

They sound like they are going to be nice places to live:

http://www.dnainfo.com/new-york/20130730/park-slope/high-end-apartments-replacing-park-slope-mcdonalds-report-says

I wonder if it's a silly question to ask if they will earmark any units therein as low-income or affordable housing...

Most developments are eligible for incentives to build "low income" or "affordable housing".

...most developers decline said incentives, because they deem them not "good enough".

Well, that'll do wonders to keep the Slope diverse.

The incentives to create affordable housing apparently were not large enough; none is mentioned in the plans that came out today.

rendering:

source and article:

http://www.brownstoner.com/blog/2013/12/a-mcdonalds-on-4th-avenue-will-become-this-eleven-story-building/

This article discusses the demographics of those moving into 4th Ave, and the going rates for apartments.http://mobile.nytimes.com/2014/02/02/realestate/a-brooklyn-artery-in-transition.html?referrer=They don't tend to eat at McDonalds very often.

update on construction