Archive for the tag 'commercial real estate'

Preliminary rendering of the new building to replace El Greco at 1801 Emmons Avenue. The view is from Emmons Avenue and Sheepshead Bay Road. (Source: Sergey Rybak)

Preliminary rendering of the new building to replace El Greco at 1809 Emmons Avenue. The view is from Emmons Avenue and Sheepshead Bay Road. (Source: Sergey Rybak)

EXCLUSIVE: A seven-story condominium building with ground-level retail, abundant parking and a 9,000-square-foot landscaped public plaza will soon be constructed at Sheepshead Bay Road and Emmons Avenue, replacing El Greco Diner, the new owners told Sheepshead Bites in an exclusive interview.

Buyer Sergey Rybak detailed his preliminary plans following the $13 million sale of the 1809 Emmons Avenue property on Friday, which he purchased with partner Jason Reznik under the name 1809 Emmons Avenue LLC. Rybak’s company, Rybak Development, is overseeing construction.

Rybak Development already has a track record in the area. The company is part owner of the MatchPoint NYC sports complex on Shell Road, and is developing several luxury condominium projects in the area, including 3041 Ocean Avenue and 104 West End Avenue, as well as commercial projects like 1810 Voorhies Avenue. Their roster of developments is almost exclusively in Southern Brooklyn.

At the moment, all plans shared with Sheepshead Bites, including the plaza and the layout of the building, are subject to change. The final project, he hopes, will be as-of-right, meaning no approval from the Community Board or Board of Standards and Appeals will be required – but that can change, too.

See more renderings, and learn details of the plan for 1801 Emmons Avenue.

elgreco

UPDATE: See the exclusive renderings for the building the new owners have planned for this space.

El Greco Diner is bustling with nostalgic patrons since news of its impending closure after 40 years of business became public.

“It’s been crazy since you ran the story,” owner George Venetoklis told Sheepshead Bites. “Lines to get in. Too bad we are closing. Packed as we speak.”

Venetoklis said the deal for the 1821 Emmons Avenue location officially closed Friday morning. He declined to name the buyer or the sale price, but Sheepshead Bites learned that Rybak Development purchased the property for $13 million with plans to build a mixed-use property and public plaza. An auction to sell off the restaurant’s equipment is scheduled for late December.

Venetoklis said a sale has been in the works for some time, as he, his brother Peter and mother Anastasia put blood, sweat and tears into keeping it going in a changing community and economy.

“We had a really good run. A lot of businesses, at some point the model just changes. Our model was large portions at good prices. Our food prices were beginning to skyrocket and we couldn’t keep up,” he said. Other economic factors were also at play. “Real estate taxes, labor costs, everything took its toll. As a family, we realized we put in our time. Forty years, it was time to move on.”

A final breakfast of two eggs over easy with sausage and English muffin for this reporter.

A final breakfast of two eggs over easy with sausage and English muffin for this reporter.

El Greco’s owners did mount a search prior to the deal to sell the business and keep it in operation, but they said businesses like theirs have a shrinking place in communities.

“We were looking for a more modern version of the El Greco family to come in and take over,” he said. “I think that [Sheepshead Bay] has been doing well, but it’s just that the larger corporate-run businesses are the ones that have greater longevity and more backing and more ability to do things in a different way. That’s just what the nature of the beast is.”

It wasn’t an easy decision to close the diner. Founded by George’s father Minos in 1974, El Greco’s remained a true family business, where the two brothers were raised and eventually worked to keep the elder Venetoklis’ memory alive 20 years after his passing.

I was three-and-a-half when it opened, and my mother is fighting off tears.” he said. “I have four children … and they were heartbroken. I can understand it because I was basically their age when I was growing up in this restaurant. My 8-year-old turned to me and said, ‘Dad, what are you going to do?’ I said ‘I’ll spend more time with you.’”

Venetoklis said it’s the relationships he makes with customers, employees and business suppliers that he’ll miss the most.

“The highlights have been the customers and the friendships we made. This place has never closed, the business has a life of its own. It doesn’t sleep. And I’ve worked every shift in this place; I’ve seen the neighborhood change. I’ve seen the menu change – we had items that we’ve had to remove because the customers weren’t around to eat them,” he said.

The restaurant, recently named one of the borough’s best diners, was teeming with longtime regulars on Saturday afternoon. Chatter about the pending closure could be overheard at almost every table.

Among the regulars were Marc and Zoya Baroda, a Mill Basin husband and wife who met at the restaurant nearly 20 years ago and who now visit regularly with their three children, ages 6 to 15.

“I worked here as a hostess, and he was the pickle man,” said Zoya. It was 1995, and she got the job because she was a frequent patron. “I grew up here. I came here before I met him, before I worked here, and this was the place to go after a club or a night out and this is where to meet up.”

Marc and Zoya Baroda with their three kids. They say they'll be back again before the restaurant closes for good.

Marc and Zoya Baroda with their three kids. They say they’ll be back again before the restaurant closes for good.

Her future husband made the regular deliveries for Mr. Pickle – which he’ll continue to do until the closing this week.

“He’d flirt, of course. He delivered, and would come to the cashier and I’d have to pay him and he’d flirt,” she said.

It took a vacation out of town to work up the nerve to ask her out, said Marc.

“I was talking, talking and one time when I went on vacation to Mexico, one of the guys who works for me, I told him to tell Zoya when I come back I’m going to be looking for her,” boasted Marc.

He did, and they married two years later. They took their wedding photos inside the restaurant.

“There’s an old joke I used to do with Peter and George after we got married. Every time she got pregnant, I’d tell them the price of the pickles went up,” he laughed.

When they found out it was closing, “I was shocked. I was completely distraught. And my phone has been going off non-stop. My friends who moved out of Brooklyn saying that they have to come to New York to have that last breakfast or lunch or whatever,” said Zoya. “I’m very sad to see the place go, but all good things must come to end.”

“I’m not just losing a diner, I’m also losing a client. But I’m not losing a friend,” he said of Peter and George.

Venetoklis said such sentiments have been endlessly echoed by regulars, and that’s what they’ll remember the most when they lock the diner’s doors for a final time.

“It’s bittersweet. It hurts, but at the same time it feels good,” he said.

Photo By Erica Sherman

Photo By Erica Sherman

UPDATE: See the exclusive renderings for the building the new owners have planned for this space, and hear what the current owners and some patrons will miss the most when El Greco closes.

Sheepshead Bay’s iconic El Greco Diner is set to shutter next week after the property has gone into contract for a sale, making way for a new residential tower with ground-level commercial space, sources tell Sheepshead Bites.

El Greco Diner, a waterfront staple at 1821 Emmons Avenue, will soon serve its last burger and breakfast, an employee confirmed by phone today.

“Yes, we’re closing. By the end of next week. We’re not sure yet [what day],” the employee said.

The worker added that she and colleagues were told just yesterday. She hung up the phone when asked for additional details.

The sale of the property and its closure are not yet public. Owner George Venetoklis did not return calls for comment, but sources with knowledge of the deal confirmed social media chatter, and said that the land has sold to a local developer with plans to construct a new building.

The building was put up for sale in March 2013 with an asking price of $17.5 million. An associate for Massey Knakel Realty Services, the listing agent, told Sheepshead Bites that the company no longer represented the property, but that El Greco’s owners had gone in-contract with a private buyer.

A source with knowledge of the pending sale said the deal hasn’t closed yet, but is in contract for between $13 and $15 million. The source requested anonymity to preserve business relationships with the owner.

“They should be closing shortly,” the source said.

No plans have been filed with the Department of Buildings, and since the deal has not closed there has been no paperwork filed notifying the city in a change of ownership.

El Greco has served Sheepshead Bay patrons since the 1970s, and has been named one of Brooklyn’s best diners. Employees were hit hard by the news of its impending closure, according to diners who visited this morning.

“My wife was there this morning and the employees were all devastated,” said Michael Goldstein, the director of marketing at Kingsborough Community College. “They also told her in secret.”

UPDATE (December 12, 2014 at 2pm): The deal officially closed this morning, confirmed owner George Venetoklis. He did not disclose the sale price or the buyer, but did add that El Greco’s last day of operation is slated for Friday, December 19.

1524-sheepshead-bay-rd

Contractors were seen installing scaffolding around the demolition site this morning.

Work to install scaffolding and fencing around 1524 Sheepshead Bay Road began this morning, as full demolition of the building is set to make way for a gated entryway to the 30-story luxury condominium tower at 1501 Voorhies Avenue.

Sheepshead Bites was the first to report on the planned demolition two months ago. An application for a demolition permit was filed in August, and the site passed its pre-demolition inspection just yesterday, according to Department of Buildings documents.

The storefront is part of a larger building, all owned by Muss Development, the company behind the Voorhies Avenue tower project, that spans four storefronts including Citibank. Only the one storefront is being demolished.

The building, once known as the Soeller Building, is nearly a century old, and we wrote about its interesting history previously.

The demolition makes way for a gated pedestrian entrance to the tentatively named Voorhies Tower, the 333-foot-tall development that will feature a mix of owned condos and rental units, with the former beginning at $700,000 for a one-bedroom. (See: video of the view from 333-feet above the development site.)

view-tower

The view from 333 feet above the development site.

Behind the gates will be a roundabout driveway leading in from Voorhies Avenue, a 52-space outdoor parking lot, and a 124-car garage that’s part of the building complex, according to local stakeholders that were invited to a closed-door briefing on the project who spoke to Sheepshead Bites in September on the condition of anonymity.

The stakeholders, after being briefed, maintained that they believe the 176 parking spots for 250 residential units plus office space will amplify parking problems in the area. There remain traffic concerns about the complex’s Voorhies Avenue driveway – which is just across the street from the Belt Parkway exit ramp, and which some believe will cause additional backups along the already congested route.

Muss commissioned an independent traffic analysis, which the Department of Transportation is currently reviewing to make potential adjustments to the plan.

The tower plans filed with the Department of Buildings for the tower are still pending review by the agency.

The approximately footprint of the combined properties now owned by Muss Development. (Source: Google Maps)

The approximately footprint of the combined properties now owned by Muss Development. (Source: Google Maps)

 

chipotle-2

I spent way too much time making this happen.

First Starbucks. Then Red Mango. Now Chipotle Mexican Grill is headed to Kings Highway, replacing longtime clothing store Beverly Boutique at East 14th Street.

Wooden fencing recently went up around 1325 Kings Highway, and permits were issued in late September allowing the interior to be reworked for the establishment of a Chipotle Mexican Grill. Since then, additional permits have been issued for interior and exterior demolition and signage.

It’s the second Chipotle in Southern Brooklyn, with the first being at Kings Plaza. There is one in Bay Ridge as well.

Chipotle is known as a healthier fast-food alternative, selling burritos, tacos and salads that might make you need to buy special products from Billy Mays’ ghost.

Kings Highway itself seems to be on the way to a remarkable turnaround. When the economy tanked in 2008, vacancy rates along the strip skyrocketed. Now national chains are stepping in to fill the gap alongside mom-and-pop businesses, including T.J. Maxx, and several new commercial developments have popped up. Perhaps the largest one currently underway is the construction of a commercial and office space on the block-long stretch between East 16th Street and East 17th Street.

Are these chains good for Kings Highway, and the mom-and-pops that have historically fueled the strip’s growth? You tell us.

loehmanns-rendering

Rendering of the proposed expansion. Provided by architect Robert Palermo.

Community and civic leaders met with representatives for the owners of Loehmann’s Seaport Plaza to discuss a plan to add a new floor to the development. The heated discussion boiled down to whether or not the plan was an investment in the community’s viability post-Sandy, or a bailout for a landlord who made a bad buy.

The invite-only meeting, organized by Councilman Chaim Deutsch, was attended by the owner’s attorney, architect and traffic engineer to explain the project and its impact. Members of Community Board 15′s zoning committee were in attendance, as well as members of the Bay Improvement Group, Manhattan Beach Community Group, and the Sheepshead Bay Plumb Beach Civic Association – all of which have expressed concerns about the project.

loehmanns

What’s the plan?

The property’s owner, Alex Levin, filed plans in March to add a new story of commercial offices to the building, totaling 10,000 square feet, as Sheepshead Bites was the first to report.

The news reignited a contentious fight with roots back to the early 1990s when the building was first proposed. Far outside the size limitations for the area’s zoning, and with proposed uses that didn’t match the Sheepshead Bay special zoning district, community groups fought to limit the scale of the project – largely without success.

The new plan to go even larger requires a recommendation from Community Board 15 and approval from the Board of Standards and Appeals. Originally set for a hearing in June, the developer agreed to two postponements to meet with concerned community members.

“We are sympathetic to your neighborhood; we’re part of your neighborhood.”

 

–Robert Palermo, architect.

The proposal asks not just for additional office space, which will fit four to five tenants, but also a waiver on the number of required parking spots. Zoning requires a minimum of 215 parking spaces with the additional office. There’s currently parking for about 183 cars, and they plan on increasing that to 198 spaces.

Although locals who live off Emmons Avenue said parking remains a top concern, the reps said this would have no significant impact on the surrounding area, since the offices would be used during the day when the building’s garage is nearly empty. According to their studies, parking peaks in the evenings and on weekends, when visitors come to patronize local restaurants and cruise boats.

The design includes 15-foot setbacks for the new floor making it invisible from the street, and is done with gabled roofs to keep it in line with a fishing village theme, said architect Robert Palermo. He shared a rendering of the proposed addition, seen at the top of this story.

“It’s impact visually on the neighborhood is minimal,” Palermo said. “We are sympathetic to your neighborhood; we’re part of your neighborhood.”

Construction would take a year or two to complete after approval, the representatives said.

Councilman Deutsch led a tour of the vacant Loehmann's space, where the meeting was held.

Councilman Deutsch led a tour of the vacant Loehmann’s space, where the meeting was held.

“This building is on the verge of failure.”

The purpose of the plan, the developer’s representatives said last night, is to make up for income that will never be regained after Superstorm Sandy devalued the sub-level storefronts.

“If this building fails … it’s not going to help a soul.”

 

–Eric Palatnik, attorney.

The 14,000-square-foot basement level of Loehmann’s Seaport Plaza, which houses the Seaport Buffet and New Cats Cafe, among others, turned into an eight-foot-deep pool following the storm. Since then, the landlord has had to slash rents by 40 percent in order to attract businesses back to the area.

The bottom line, said attorney Eric Palatnik, is that the building is no longer commercially viable.

“We’re having a hard time of it,” said the owner’s attorney, Eric Palatnik. “We’re here to tell you that we lost income as a result of downstairs. And in order for us to make up that income, we need space upstairs.”

The 10,000-square-foot space will bring in about 60 percent of the rent the basement commanded prior to Sandy, while the basement will continue to draw about 40 percent.

“It’ll never get market rent again,” said architect Palermo.

In sum, they said, the expansion plan is necessary because if the project goes belly-up the entire community will suffer.

“If this building fails, which it’s on the verge of failing, it’s not going to do anything for this community. It’s not going to help a soul,” said Palatnik.

The landlord has been unable to find a new tenant for Loehmann's since they went bankrupt nine months ago.

The landlord has been unable to find a new tenant for Loehmann’s since they went bankrupt nine months ago.

“Why should we bail you out?”

The argument that the exception ought to be granted for the building’s viability has historical roots, Palatnik noted. The basement level was opposed by community advocates like the Bay Improvement Group as well as by City Planning, all of which warned that a flood posed a significant risk. But the Board of Standards and Appeals agreed with the developer in 1995 that it needed commercial space in the basement in order to make the project viable.

“[Loehmann's] was a failure. We now know, the experiment is over.”

 

–Steve Barrison, Bay Improvement Group.

To the project’s opponents, this is a case of buyer’s remorse and they shouldn’t be rewarded for a bad investment. Levin and his partners bought the property from the original owners in 2008 for $24 million, a local real estate record at the time.

“We’re not saying it after the fact. We’re not Monday morning quarterbacks,” said Bay Improvement Group President Steve Barrison. “[The owners] bought it with their eyes wide open, and now they’re saying, ‘Oh we bought it. Look what happened. I’m a schmuck, I got stuck.’ And the community is saying ‘Why should we bail you out?’… Nobody is bailing any of us out.”

Some expressed skepticism that there was demand for office space in the area, but both Palatnik and Palermo said that the increasingly white-collar, Eastern European demographics are looking for professional spaces near their homes – and other projects prove it.

“Offices will rent. The B’ay Tower that I did two years ago proves it. You give a quality office environment in a good location in Sheepshead Bay, there’s a need for office space,” said Palermo, referencing the new tower at 1733 Sheepshead Bay Road that he designed and is now fully leased.

Palermo and Palatnik argued that the community must grant the waiver because it will help stabilize commercial property values. As a bonus, area businesses stand to gain from the expansion, since office workers will provide a new lunchtime client base for restaurants and other small shops.

But Barrison said that’s the same argument used to allow Loehmann’s department store into the space contrary to zoning, and it no longer holds water.

“It was a failure. We now know, the experiment is over. Loehmann’s came in, people shopped, and they left,” said Barrison.

Loehmann’s went bankrupt nationally  and vacated the property in February. A new tenant has not been found, though Palermo said it will remain a department store use.

Councilman Deutsch said he’s yet to take a stance on the project.

“I think it’s important for the members of [Community Board 15's] zoning committee and the community groups to know what they’re voting on, and that why went to take the tour,” said Deutsch. “I still have to discuss it with everyone, see what their position is, and their feeling is, and then I’ll take my position if need be. Or maybe I’ll just let the Community Board zoning committee vote on it, because that’s what they’re there for.”

Community Board 15 Chairperson Theresa Scavo said much the same.

“I see a difference on Emmons Avenue [after Sandy,] and there isn’t really the life that used to be two years ago,” she said. “So I understand it probably is a heartache [for the landlord]. Down the road, let’s see what happens. I want to hear from the general population of Sheepshead Bay.”

The project is not yet scheduled to come before Community Board 15, but Scavo said it’s likely to come up in January.

loehmannsThe owner of Loehmann’s Seaport Plaza, who is currently trying to expand the Emmons Avenue property to overcome what he says are financial hardships created by Superstorm Sandy, just doled out $16.5 million for a struggling mall in Milwaukee.

Alex Levin, the owner of Loehmann’s at 2027 Emmons Avenue, was identified last week as the top bidder on Shops of Grand Avenue, a 298,109-square-foot mall in the city’s downtown area  - shutting out a local nonprofit that hoped to turn it into a community space for higher educational institutions to collaborate and offer programming.

The mall had gone to auction following a foreclosure, as its previous owner struggled, like many malls, to retain national retail tenants. Levin confirmed to the Milwaukee Business Journal that he was the top bidder, using an anonymous LLC called Grand Avenue Mall LLC, which shares its address with Loehmann’s Seaport Plaza.

“We do want to bring new life to this mall,” he told the outlet, but declined to elaborate.

Levin made the steal after a bidding war in the auction’s final moments, climbing by $100,000 increments from $15 million to a final total of $16.5 million.

The group that had hoped to revitalize the mall for community purposes, WAM DC LCC, had won approval from the city’s economic development corporation to receive up to $20 million in city-backed bonding before it was out-bid. The idea for a collaborative space, spurred on by a similar successful project in Phoenix, was regarded as a key component to the downtown area’s renewal efforts. WAM’s proposal was called the “most vocal hometown interest in the property” by the Milwaukee Business Journal.

Scaffolding went up last week. (Source: Lisanne Anderson)

Scaffolding went up last week. (Source: Lisanne Anderson)

Neighbors are raising the alarm over potential plans to tear down a symbol of Midwood’s movie-making history, the 107-year-old Vitagraph smokestack near East 14th Street and Avenue M.

Scaffolding now surrounds the smokestack, which still has the historic silent film company’s name on it, though no plans have been filed to indicate its fate. The appearance of scaffolding has some worried that new owners plan to demolish the structure.

Brooklyn Eagle reports:

The smokestack, at East 15th Street and Locust Avenue, is an artifact from the historic Vitagraph Studios, a silent film company founded by J. Stuart Blackton and Albert E. Smith in 1897. It is now shrouded in scaffolding after permits were filed to erect a heavy duty sidewalk shed and pipe scaffold at the location.

“It is 110+ years old, and an important part of Brooklyn and film making history,” [neighbor Ellen] Levitt added. “I don’t think this is landmarked, which is a shame.”

Despite the age, passersby could clearly see the Vitagraph name embedded in the brickwork before scaffolding was erected. (Source: Lisanne Anderson)

Despite the age, passersby could clearly see the Vitagraph name embedded in the brickwork before scaffolding was erected. (Source: Lisanne Anderson)

The smokestack is part of the larger property at 1277 East 14th Street, which was most recently the site of Shulamith School for Girls. The complex became part of Warner Brothers after Vitagraph was sold in 1925.

The Encyclopedia of New York City has this on Vitagraph Studios (via Forgotten NY):

An open-air, rooftop motion picture studio, opened in 1898 by American Vitagraph in the Morse Building at 140 Nassau Street [Manhattan]. The film Burglar On The Roof was produced in the studio during its first year. In 1890 the company moved its offices to 110-16 Nassau Street and then opened a glass-enclosed studio in 1906 at 15th Street and Locust Avenue in Flatbush…

…Warner Brothers purchased American Vitagraph in 1925 and used the studio for many of its Vitaphone short subjects before closing it in 1939; it continued to produce film there even after the National Broadcasting Company (NBC) bought the studio in 1952 and began using it for color television broadcasts.

Though a portion of the sprawling complex continued to operate as a studio into the 21st Century, the more historic facility at 1277 East 14th Street was repurposed by Yeshiva University in 1967.

Attempts to landmark the smokestack itself have failed to win approval from the Landmarks Preservation Commission.

A new petition by neighbor Melissa Friedling is making the rounds to save the smokestack.

“Prodigious and proud, the smokestack stands beautifully emblazoned with inlaid brickwork spelling out Vitagraph (visible from the Q train as you approach the Avenue M subway station),” the petition states. “We would like to make a plea for preserving it as a landmark for the the borough of Brooklyn and for cinema posterity.”

The property sold in July 2014 for $20 million. Despite using an anonymous LLC moniker, Sheepshead Bites has learned that the new owner is Hampshire Properties, a Midwood-based manager and developer of residential and commercial properties across the nation. They manage several properties in Midwood, Sheepshead Bay and Manhattan Beach, among others.

Though Hampshire Properties has confirmed ownership, they did not return requests for comment on the plans.

view-tower

In a neighborhood of one- and two-family homes, with buildings that max out at seven stories, it’s really hard to get an idea of the scale of a 30-story building.

Fortunately, an anonymous amateur drone enthusiast got curious and dispatched his flying machine over the building site at 1501 Voorhies Avenue, where Muss Development is planning their luxury residential tower. The rest of us schmucks in our itty bitty homes and low-rises will appear as ants.

Our tipster filmed during one of last week’s overcast days. He said he hopes to visit the site again during clearer weather. But even with the foreboding clouds obscuring the view, the drone hovered at just under 330 feet, illustrating the views to be enjoyed by the residents of the building’s penthouse. It clearly dwarfs all buildings in the area, making even the tallest structure – the St. Mark Roman Catholic Church steeple – look like a children’s toy.

The jaw-dropping view goes out for miles, and the thin outline of One World Trade Center makes an appearance in the video. On a clear day, this tower will be visible from just about anywhere you can see the skyline south of Prospect Park.

Our tipster also turned the camera down, snagging an aerial shot of the lot.

drone

The approximately footprint of the combined properties now owned by Muss Development. (Source: Google Maps)

The development site, with Voorhies Avenue to the south and Sheepshead Bay Road to the north.

The developers behind the 30-story residential tower slated for 1501 Voorhies Avenue are envisioning a luxurious haven for the area’s wealthiest residents, housed behind a gated entrance on Sheepshead Bay Road and with units starting at $700,000, Sheepshead Bites has learned.

Muss Development and AvalonBay, the development team behind the planned 280,000-square-foot, 333-foot tall proposal, briefed community stakeholders at an off-the-record, behind-closed-doors meeting a week before Sheepshead Bites shed light on the plans. Several people at the meeting shared details with this publication on the condition of anonymity, since the meeting was considered a courtesy and not required by the developer.

What emerged from their description is the first glimpse of a luxurious project that will change the physical and, potentially, the socio-economic landscape of the Sheepshead Bay Road area.

The most immediate effect of the plans is an impending demolition of a storefront on Sheepshead Bay Road at East 16th Street. Where the prior developers sought to create a street that runs through to Voorhies Avenue, Muss and AvalonBay will create a pedestrian walkway. Attendees at the meeting said renderings shared with the group showed that the walkway was a gated private entrance to the complex’s grounds.

Behind the gates was a roundabout that caps off a long driveway from Voorhies Avenue, where vehicles will enter. The 52 outdoor parking spots will be to the east, the building, with its 124 garage spots, will be on the west, abutting the subway station. It’s unclear if the Voorhies Avenue driveway will be gated or have a security booth like Muss’ Oceana Development.

The building itself will soar 333 feet into the sky at its highest point, but a portion of the building – possibly the garage – will only be a few stories tall, capped off with an outdoor common space that could have a pool and be connected to a gym and health spa. They’re considering alternative amenities for the outdoor space as well, including a dog run. The building will be pet-friendly.

Three other developments by the same architect, Perkins Eastman, for the same developer, Avalon Bay (Source: Perkins Eastman) (Click to enlarge)

Three other developments by the same architect, Perkins Eastman, for the same developer, Avalon Bay (Source: Perkins Eastman) (Click to enlarge)

The price is not for the weak of wallet. Our sources said that units are designed to be comparable to the Oceana Development, and will begin at $700,000 for a one-bedroom. One attendee told Sheepshead Bites that prices are based on a $700 per square foot rate, though this couldn’t be confirmed by others in attendance (most of the details shared here were corroborated by multiple sources). None of our sources could provide the proposed price for the building’s most expensive units, but at the Oceana they were marketed for approximately $2.1 million when the building first opened.

All of our sources say that the building will be split between rentals and owned condos, with Muss selling the condos and AvalonBay managing the rental properties. One of the sources said the bottom two-thirds of the building will be rental, while the top third will be owned condos. No proposed rates were given for the rentals.

Rental tenants and condo owners would enter using the same entrance and use the same parking lot. However, of three elevators, two will be for both renters and owners, and one will be owners only.

Each attendee that we spoke to emphasized that the developer stated that the plans are far from set in stone and are only drafts; they’re subject to change.

Our sources told us that little opposition to the plan was raised by those in attendance, which included representatives for local elected officials and members of Community Board 15. Instead, they questioned specifics of the development that could be problematic.

Multiple attendees asked about affordable housing units, and were told “absolutely not.”

Parking was also a key issue raised by the stakeholders, with some saying 176 parking spaces for 250 units plus office spaces, although the minimum required by zoning, was far from sufficient for the neighborhood.

The developer responded saying that the building’s proximity to the subway station would make it unlikely tenants would have cars. One source told us that the developer said they believed much of the parking lot would sit empty most of the time.

This was described alternately by almost all of our sources as “bullshit” and “horseshit.”

Parking wasn’t the only vehicle-related issue raised. Voorhies Avenue is often at a standstill during the day, especially at that location where vehicles stop to pick up or drop off commuters at the train station, and a constant flow of cars depart the Belt Parkway at the exit ramp directly across from their proposed driveway.

The developer told attendees they’re working with the Department of Transportation to figure out the best road configuration to accommodate vehicles entering and exiting the property’s driveway. A Stop Sign on the property is being considered.

Sound and vibrations from the subway, just feet away from the property, was also discussed. The developers told attendees that the building would have special windows to block out the sound.

Among other concerns that came up was the additional stress that the highrise would place on sewage infrastructure, already criticized by some as deficient to handle the number of homes and businesses in the area. The developer said they’re conducting an environmental impact study. One source said the developer completed the study and found that there would be no problems to the infrastructure, but this was contradicted by another source. Other sources could not recall.

The building’s plans are still being reviewed by the Department of Building, and one source said they expect it that it will be put to a more vigorous process than most – although it will likely pass. The building is as-of-right and completely within zoning, so it will not need approval from the Community Board.

The developer told attendees they expect to begin construction by spring 2015 if all goes smoothly.

Demolition of the Sheepshead Bay Road storefront will happen within the coming days.

Next »