Alloy Development Buys Phoenix House Buildings In DUMBO
DUMBO – Alloy Development is in contract to purchase 42-50 Jay Street from Phoenix House, The Real Deal reports.
The non-profit addiction treatment and rehab organization Phoenix House announced in January that it was selling its 68,500-square-foot property located in DUMBO. The asking price was estimated at $60 million, Crain’s New York reported at the time, though the purchase price is not known.
Phoenix House has owned the property since 1973, which features two interconnected buildings—the five-story 50 Jay Street which was home to the Phoenix House offices, and the seven-story 42 Jay Street, which housed the Phoenix Life Center, a $9 million residential substance treatment center that opened in September 2017 and closed soon after in December.
The treatment center featured an in-house chef as well as a rooftop gym, and reportedly charged clients $18,500 a month. The facility was licensed for 125 beds, but the number of those filled was approximately 15, Crain’s reported.
Alloy recently presented its plans for 42-50 Jay Street to the NYC Landmarks Preservation Commission. 42 Jay Street was built in 1921 and 50 Jay in 1891, according to New York YIMBY.
Alloy proposes to rename the property 168 Plymouth Street, restore the windows, and build a two-story addition atop it. 168 Plymouth will feature approximately 46 condominiums, according to YIMBY, as well as a courtyard, fitness center, storage, and laundry in each apartment. The newly constructed ninth floor will offer a “full-floor suite with an outdoor terrace.”
Alloy Development declined to comment on the deal when BKLYNER contacted a representative of the firm. Alloy developed One John Street, a 42-unit luxury condo in Brooklyn Bridge Park, and in 2016 purchased a parking lot on the corner of Nevins and Carroll Streets in Gowanus for the site of its new headquarters.
Alloy is also behind the controversial 80 Flatbush project which proposes to build two new mixed-use towers, one 38 stories and the other 74, in Boerum Hill. 80 Flatbush would include 700 market-rate apartments and 200 permanently affordable units and feature a 15,000-square-foot cultural space, 40,000-square-foot ground floor commercial/retail space, and two schools.