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Developer Ups Offer For Land Next to Brooklyn Heights Co-Op

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The deadline is fast approaching for residents of 75 Henry Street to decide whether or not they'll entertain a developer's offer to buy a small strip of shops that sits on land owned by the co-op. The developer, Anabau Enterprises, recently increased its bid in an effort to sweeten the deal—from $75 million to $130 million, according to the Brooklyn Daily Eagle.

The increase was made known to shareholders at a private meeting held earlier this week, according to the Eagle. If the co-op's shareholders vote yes, then they can look into not only Anabau's offer, but offers from other developers who may be interested in snapping up the property. The parcel of land includes the shops on Pineapple Walk, which include a deli, a pet store, and the Park Plaza diner. Anabau has said that it wants to raze those stores to build a 40-story tower, along with new ground-level retail. According to the Eagle, if a sale of this size went through, the co-op residents stand to make a killing: they'd net at least "$120,000 (studio owners) to $260,000 (three bedroom owners) apiece; Whitman townhouse owners would get even more."

But Brooklyn Heights locals are not happy with the potential sale. Residents of two nearby buildings—Cadman Towers at 101 Clark Street, and 140 Cadman Plaza West—have repeatedly voiced their opposition, noting that a tall tower would not only obscure views from those buildings, but also overburden the resources (grocery stores, schools, subways) in the neighborhood. The vote happens on January 15 at noon, so residents have only a few more days to wait to learn their fate.
· Developer's offer for Brooklyn Heights' Pineapple Walk property increases dramatically [Eagle]
· Brooklyn Heights Residents Unhappy With 40-Story Tower Plans [Curbed]
· 75 Henry Street Archives [Curbed]