Construction begins on the former Bay News / Courier-Life headquarters at 1733 Sheepshead Bay Road, as fencing goes up in preparation for the erection of a four-story, 70-foot-tall office and retail building.
Architect Robert Palermo, of Corporate Design of America, said the site is slated for a September 2011 completion. Palermo designed the original building “way back when,” and said the new property will include an attended parking garage for approximately 68 cars. The storefront next to it, a travel agency at 1737 Sheepshead Bay Road, is being torn down to make an entryway to the garage in the rear of the building. All work is being done as-of-right and within current zoning laws.
There are no tenants signed yet, said Palermo, but he expects one prime retail tenant on the ground floor, and the remaining three to have a single tenant each.
The building has sat empty since March 13, 2009, when Bay News / Courier-Life moved to Downtown Brooklyn. The building was sold to Alex Finkelstein in August 2008 for $3.1 million. Finkelstein is a local landlord and developer who owns other buildings in the neighborhood, and has no plans to sell the property after construction is finished, Palermo said.
Thanks to Erica S. for the tip.