City To Sell Fort Greene Real Estate At Dollar Store Price
It’s one for the real estate record books: $1 for a 120,000-square-foot parking lot located at 15 Lafayette Avenue — a prime piece of real estate in the heart of Brooklyn’s cultural district.
The super steal is said to have been scored by Jonathan Rose Companies, according to the New York Daily News. In exchange for the beyond-bargain basement price, though, the private developer must designate 40 percent of the apartments — 49 units — as “affordable” for at least the next 30 years.
Renderings of the planned development show a 12-story apartment building with 2,800-square-feet of ground-floor commercial space and 21,000-square-feet for a cultural center. The site sits across from the BAM Opera House and next to the Mark Morris Dance Center.
The building will contain 123 units, 73 of them at market-rate prices and 25 for tenants who earn 60 percent or less of the Area Median Income (AMI). There will also be 24 units for tenants paying above market-rate.
The plan originated with Mayor Michael Bloomberg’s administration and is being picked up again by Mayor Bill de Blasio’s team at the Department for Housing Preservation and Development as part of their goal to build and preserve affordable housing throughout the five boroughs.
Construction is due to begin this spring and finish in time for a late 2016/early 2017 opening.
Public input will be heard on the plan on Wednesday, February 11 at 10am at 22 Reade Street in Manhattan.
