Earlier this year, the Rabsky Group made a deal to buy six adjacent buildings in Park Slope for $15.4 million—four at 575-581 Fourth Avenue and two at 189-195 Prospect Avenue, with Rabsky planning to build a 129-unit rental building. Now, months later and with little progress made, the Daten Group has swooped in and bought the assemblage site for $24 million, The Real Deal reports.
According to Daten's director of acquisitions, Craig Rosenman, the Manhattan-based developer is ready to construct a condo building around the same size as Rabsky's former rental plans, but with significantly fewer units. The project will rise 12 stories on Fourth Avenue and five stories on Prospect Avenue, and it will feature 65 units, spread across 80,000 square feet. Rosenman says that he expects condos to fetch over $1,250 per square foot.
Demolition is set to begin within two months, and Kutnicki Bernstein Architects has been hired to design the building.
· Daten to build condos on Rabsky's Park Slope site [TRD]