Taken yesterday. Not much activity. Maybe some work going on at the albee sq w side but that might be final work to phase 2.
Together with 9 DeKalb, this is going to transform DoBro into the equivalent of a major city’s skyline in its own right, almost on the scale of Downtown LA or Seattle…!!!
Yeah! This will be cool. If they start sooner than 340 flatbush it could top out and be tallest in brooklyn for a short while. Of course being Barnett we wont know too many details I guess.
Given the issues Extell is already having with CPT, I’m not sure if Barnett has enough $ to get this going just yet. Though obviously the projects cater to completely different demo’s and the oversaturation on 57th is probably worse than DoBro which is still largely untapped (and units up top here would have unrivaled views).
Nice to see more equipment and activity at this site. Especially an excavator and truck in the background. Maybe excavation has just started?
Not yet. That was less than a week ago.
Very cool. Brooklyn’s next tallest tower!
Great updates JC!!
Nice photo, Tec.
How about your City Point project on Willoughby Street in Downtown Brooklyn?
That’s an example of the change in the market. When we bought it, we
thought it was a good buy. Today, it’s a big project, harder to finance
and costly to build. The rental market is down. We think we’re going to
build the nicest building in Brooklyn. Unfortunately for us, we only
know how to build one way, so it’s going to cost more than your typical
Brooklyn building. The plan is to do smaller units, mostly studios, ones
and twos, some smaller threes. Most likely, we’ll have to go co-op or
condo. If it’s co-op, it’s purely a function of the structure of the
whole Acadia Realty Trust deal.
You mentioned “the typical Brooklyn building.” Could you elaborate?
A lot of the recent crop of buildings to date is pretty pedestrian.
We’re subject to the architectural standards board, which had to rule on
our building. They wanted to see a nice building too. Even if we didn’t
want to build a beautiful building, we really had to.