A commercial property at the corner of Crown Street and Franklin Avenue in Crown Heights has sold to a residential developer, which can only mean one things: apartments are coming next. DNAinfo reports that Cornell Realty Management bought the property, which consists of three one-story buildings and a smokestack, for $14.5 million. It's been a commercial laundry facility since 1935, but the property is zoned for residential and can accommodate a building up to 7-stories or 70-feet tall. The last laundry company to occupy the site filed for bankruptcy in the fall.
No plans have been filed with the Department of Buildings, but there is little chance that this site will see anything but apartments. Crown Heights is experiencing a serious residential building boom, but most of the action has been north of Eastern Parkway. Of the 23 new projects we mapped last month, only two are south of the Parkway. A church further east on Crown Street at the corner of Rogers Avenue is currently being demolished to make way for a 165-unit building, and the building at 90 Sullivan Place recently became de-zombified. Clearly, times are a-changin'. Developers tend to follow developers, so we expect to see more action in this part of the 'hood. Just one block south of the laundry facility, next to the wonderfully fragrant Golombeck Spice warehouse, there is a large vacant lot that's just crying out for something new.
· Former Crown Heights Laundry Facility Sells to Real Estate Firm for $14.5M [DNAinfo]
· Mapping Crown Heights' Crazy Residential Building Boom [Curbed]