705 - 711 Franklin Avenue recently changed hands for $12M

 https://a836-acris.nyc.gov/DS/DocumentSearch/BBLResult

Borough:  BROOKLYN / KINGS
Block:  01231   
Lot:  0001       Unit:  N/A
Date Range:  To Current Date    

Document Class:  All Document Classes

The large, single story building presently holds a laundromat, thai restaurant, and a clinic that provides methadone and mental health services.

Over the next few years, we can expect the building to become vacant, then a demolition permit, then construction of a large residential building.

The sale was recorded on 2/2/2016.    

705 Franklin

707 Franklin

709 Franklin

711 Franklin

Crown Heights 

older view:

 

I don't know if I'm more annoyed (in advance) at the eventual disruption caused by the construction or the loss of the laundromat.

Probably the laundromat.

I'm kind of annoyed that I may never get to retire.

Several years ago, I decided it would be fun to use Brooklynian to record the big developments happening in western Crown Heights, as I walked my dog around the area.

I created a list of the "Big 6", then the "Big 9", then the Big 16.

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

At some point, I assumed I would need a new hobby, but it seems I will need a new dog first.

Photo is pre bling baby mural RIP

indeed.

photo by Abeni G

Any details about the purchaser?

I don't have any details beyond what is available on ACRIS.

IE

It is an LLC, and there is no way that the present array of businesses and present building is going to provide a decent ROI on $12M. 

Figure anything that's put up is going to cost about $5 million and you're looking at some awfully steep rents.

The site is not as large, but I expect the new building that goes up to be every bit as nice as the one being presently being built at Franklin and Dean.

 http://www.brooklynian.com/discussion/45145/the-part-of-the-old-brewery-that-is-becoming-a-huge-complex-franklin-dean#Item_40

I wanted a shot that had the two sides.

A customer of the laundromat has learned it will close in about two months, and then the building (laundromat, thai restaurant and medical clinic) will be demolished. ...construction of a residential building will likely follow.

Medical office already closed a big site:

Article on how laundromats are disappearing. https://www.citylab.com/life/2017/07/the-decline-of-the-american-laundromat/535431/

Despite the above, the laundry is still open. And, there is no demolition permit on file yet. Perhaps we will see heavy equipment in the spring...