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.

Key Food on Washington and Lincoln has sold, residential building and grocery store in the works - Page 3 — Brooklynian

Key Food on Washington and Lincoln has sold, residential building and grocery store in the works

13»

Comments

  • whynot_31
    whynot_31
    IMG_5272IMG_5274IMG_5275
  • ehgee
    ehgee
    See any vestiges of its former life as a movie theater? http://cinematreasures.org/theaters/10171
  • whynot_31
    whynot_31
    edited August 2017
    Not really. However, I do find it odd that the basement was only in the very front of the building.
  • whynot_31
    whynot_31
    edited August 2017
    "Aristone Capital, a Propellr Company, provided New York-based Happy Living Development with $31.7 million acquisition and construction financing for a residential condominium development with ground floor retail. The property is situated at 805 Washington Avenue in Brooklyn’s Prospect Heights neighborhood. The two-year non-recourse loan was secured at 75 percent loan-to-cost, which allows the borrower to both fund construction costs and acquire the development site along with necessary additional air rights. “This is a property with views of the Brooklyn Museum, proximity to Prospect Park and Grand Army Plaza, and excellent access to public transportation in a low supply/high demand neighborhood. I am excited that Aristone was able to deliver a financing solution that allows Happy Living to acquire and build the project,” said Boris Zhuravel, Head of Real Estate for Aristone Capital. http://rew-online.com/2017/08/04/happy-living-development-secures-32m-loan-for-prospect-heights-property/
  • whynot_31
    whynot_31
    edited August 2017
    ...which means this project remains on track and should go up pretty quick, so Happy Living Development can promptly repay the loan.
  • whynot_31
    whynot_31
    edited August 2017
    Flat. IMG_5283IMG_5281
  • whynot_31
    whynot_31
    I've now heard the the Othman family (which ran the Key Food) has sold their rights to the first floor, and won't be involved in anyway from here out. They may have received an additional $10M to walk away.
  • naturegirlbk
    naturegirlbk
    @whynot_31 Wow.
  • whynot_31
    whynot_31
    edited August 2017
    If my source is correct, they sold the lot for a total of $22M. $12 million initially for the air rights that would create floors 2 -8, and now an additional $10 million for the first floor and part of the basement.
  • james131
    james131
    edited August 2017
    I've seen worse (and better), but pretty dramatic changes coming to this intersection for certain. 805 washington
  • whynot_31
    whynot_31
    They seem to have chosen 805 Washington as its address. Not a bad looking building!
  • Rick656
    Rick656
    Looks good, but hard to tell for sure without seeing a color rendering to tell the type of materials that will be used on the exterior. Looks like residents will have great views of the Brooklyn art museum and park with all those windows and some units will have nice terraces too.
  • james131
    james131
    Update: 805 Washington is an architectural marvel as compared to the afterthought that will rise next to it on the tiny lot at 807 Washington. Could have done something great with direct views of the Brooklyn Museum. What a waste. 807 washington
  • whynot_31
    whynot_31
    I'm surprised the owners of the two lots were not able to reach an agreement about combining then. http://www.brooklynian.com/discussion/43815/807-washington-between-keyfood-and-ep-looks-like-it-is-being-stripped#latest
  • whynot_31
    whynot_31
    The excavator is now digging the basement. Concrete could start arriving mid October...
  • whynot_31
    whynot_31
    No concrete yet. Hole is still being dug.
  • whynot_31
    whynot_31
    Digging is done. Forms for the concrete foundation are now being constructed.
  • whynot_31
    whynot_31
    "The 69 foot-tall structure will yield 54,500 square feet, with 37,300 dedicated to residential use, and 6,300 for commercial use. 25 residential units will be created, with an average area of 1492 square feet, indicating condominiums." https://newyorkyimby.com/2017/10/first-look-at-805-washington-avenue-crown-heights-brooklyn.html
  • whynot_31
    whynot_31
    edited December 2017
    Developer has made an application to increase the height of a new residential building at 805 Washington Avenue from 8 stories to 9 stories, in exchange for locating a supermarket at the ground floor under the New York City FRESH program. While FRESH is intended to incentivize the creation of supermarkets in low-income neighborhoods that are food deserts, and requires at least 3,000 square feet be used for the sale of “a general line of food products,” with at least 2,000 square feet used for the sale of perishable goods (produce, meat, dairy, frozen food).... It does does not make any specific requirements as to the operator of the store, or the price level of the groceries sold.
  • james131
    james131
    I hadn't seen a rendering in context with the neighboring buildings: 805-washington-avenue-05 805-washington-avenue-034 https://www.cityrealty.com/nyc/market-insight/features/future-nyc/805-washington-avenue-supermarket-coming-new-prospect-heights-development/14541
  • whynot_31
    whynot_31
    foundation now poured. Also, here are the views the residents will have IMG_5348
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