By Rachel Holliday Smith – DNAinfo.com
CROWN HEIGHTS — An eight-story, mixed-use building with affordable housing is set to replace a Crown Heights gas station at Eastern Parkway and Bedford Avenue that sold to a developer for $32.5 million, according to the broker and building permits filed Tuesday.
The real estate group Adam America purchased the corner lot at 1525 Bedford Ave., previously occupied by a gas station and car wash, broker TerraCRG announced Tuesday, the same day the developer filed permits with the city for the project.
The building will have 133 residential units, 20 percent of which will be designated as affordable housing, TerraCRG said. The project will also include 14,000 square feet of commercial space on the ground floor, 42 enclosed parking spaces and a gym, roof deck and basketball court for tenants.
Adam America bought the property for $32.5 million, TerraCRG said, though its unclear when the sale went through. The site has been on the market since last summer and the gas station has been closed since December, when workers disassembled the lot’s signage and put up construction fencing.
A deed assessed the lot’s value at $309,600 in 2003.
The project is not Adam America’s first in the area. The developer also built 500 Sterling Place, a rental building completed near Classon Avenue last summer and sold for $48 million this month, The Real Deal reported last week.
The new building on Bedford Avenue will be designed by the Manhattan-based firm Isaac Stern Architects. News of the project was first reported by The Real Deal.
Yes, higher class neighbors are better than low class scum, but things are sort of getting out of hand. parking in the hood is a nightmare, rents are outrageous, and gas stations are disappearing. Like most things in Brooklyn, planning is poor and current residents get the short end of the stick…
Many here in the community have been wanting an assisted living/rehab unit/health facility with pool, etc. This is a venture that may yield more profit than a regular apartment complex or store rentals. Please consider.
Very nice idea to invest in housing , but nothing is cheap here …. …. Jews of CH with lots of kids , means expenses can’t compete with rich hipsters roommates living style …. To all wealthy people of CH , buy all property around – keep the places for yourself but do care of all others CH Jews that’s your responsibility …. Otherwise only few families will stay here in the next decade … All young couples gone or live in old rent buildings forever … No one without big money can afford to buy now …. Found some… Read more »
Yidden will move in the residential part of the building, Empire Kosher should open in the commercial part and a Shule, Mikvah, there too and we’ll have a nice little community right next to CH, close to all the local moisdos. Great idea!
Gentrification is the only way to keep crime away!
It’s time the neighborhood went back to its roots.Had enough of living in a high crime ghetto
Managing a hotel for frum people is a nightmare.
Hi dovid blue jay bought the next corner
at 341 eastern parkway
Managing a hotel for frum people is a nightmare.
Yes the Hungarians r very into nursing homes u r right about that. Most nursing homes in New York especially in Brooklyn are owned by Hungarisheh Yidden.
more yuppies means us lubavitchers get squeezed even more. my friends, wake up. we need to take action.hard working people are living in crazy conditions. lubavitchers rent to yuppies so even the hard working honest ppl can never compete with these goyim that dont lve a family life.
I thought bluejay bought this…
120 units with 42 parking spots
Nursing Homes, Board & Cares Retirement Homes all the way, look @ Satmar in Williamsburg & Kiryas Yoel tons of them built facilities like these & became seriously wealthy
Wasnt Eshel a Hachnosis Orchim? why hotel$$$
There is a hotel – Eshel (Almost right across from 272 kingston)!
To all crown heights people who are renting, please buy buy buy in Brownsville, east Flatbush, east New York.
Why doesn’t someone build a hotel in Crown Heights?
I would build a nice big retirement home or a board & care facility it would make tons more $$$ then affordable housing. The health care business is a huge $$$ maker.
“A deed assessed the lot’s value at $309,600 in 2003” and “Adam America bought the property for $32.5 million”
we will soon be running out of gas getting to a gas station in the area!!!
Where will I take my van for a proper Pesach cleaning ? That place was great …
120 units with 42 parking spots