The city approved the Crown Heights West Rezoning just last week, and real estate developers are already making moves. Crow Hill Development listed the former Nassau Brewery site at 608-614 Franklin Avenue on the corner of Dean Street for $18 million. According to the Real Deal, the new zoning rules allow for a residential development of up to 100,875-square-feet as of right on the site if the developer includes affordable housing in the new building or offsite.
The 20,929-square-foot site function as a brewery until 1914, then the Heinz Company used it as a factory. It's mostly vacant right now. Crow Hill Development bought it in 2008 for $7.5 million with plans to development, but when they economy tanked, so did those plans. Whoever buys it will certainly not be lonley. Brownstoner's foodie market and office complex at 1000 Dean Street is just a block away, and there are lots of other new rental and condo buildings nearby.
· Crown Heights Owner Plays off Rezoning, Lists Site for $18M [TRD]
· In the Rezone [Curbed]