Brooklyn's Fourth Avenue has been dubbed the Canyon of Mediocrity, but that hasn't deterred developers from clamoring for sites along the thoroughfare, which marks the divide between very-gentrified Park Slope and somewhat-gentrified Gowanus. A rezoning in the mid-2000s created a wave of residential development, but the change didn't make ground floor retail a requirement, resulting in the aforementioned canyon devoid of street life. Thankfully, a partial rezoning in 2011 changed that, and new restaurants and shops are popping up, making the area more attractive to residents (though, really, how attractive can Fourth Avenue be?). In the last three years, several new apartment buildings have opened (and leased quickly), and many more are in the works.
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Tracking the Development Boom on Brooklyn's Fourth Avenue
Church of the Redeemer
Closest to Atlantic and Flatbush avenues is the Church of the Redeemer, which just sold to a developer for about $20 million. New owner The Jackson Group hasn't said what they're doing with the site, but it comes with 70,000 square feet of buildable square feet. And the church isn't landmarked. And needs $4 million in repairs. So let's just call a spae a spade and call it another of NYC's many houses of worship that are getting replaced by houses for people. Redevelopment seems more than likely.
35 Fourth Avenue
At the corner of Fourth Avenue and Dean Street lies an old Medicaid office building with tons of development potential. No paperwork has been filed with the Department of Buildings yet. The enigmatically named 35 Holdings LLC paid $25 million for it in May, Brownstoner reported, an the site has 108,000 square feet worth of development rights. That makes it the most expensive sale on Fourth Avenue, according to the Brooklyn Eagle, clocking in at $231 per buildable square foot.
153-155 Fourth Avenue
A father-son development team has grand plans for the site of two low-rise buildings between Douglass and DeGraw. DNAinfo reported in December 2013 that Imran and Muhammed Tahir want to demolish what's there and put up an 11-story rental building, designed by S3 Architecture, containing 17 apartments with balconies. Brownstoner and BuzzBuzzHome had the first news of the development. But 10 months later, there are no approved permits.
245 Fourth Avenue
Between President and Carroll Streets is one more of the city's mechanics that is not long for this worldprobably headed the way of all the others, and that's residential. L & B Auto Repair at 245 Fourth Avenue is reportedly "in contract ... but have not yet closed." Public records confirm there's been no closing.
269-271 Fourth Avenue
275 Fourth Avenue
Slate Property Group and Adam America Real Estate is turning a McDonalds into a rental building. In the glassy, boxy, setback-covered shell designed by ODA Architecture will live 78 "high-end" apartments, plus commercial space and community space. Expect amenities including a part-time doorman, tenant lounge, private gym, roof deck, and personal storage space.
365 Fourth Avenue
range form $3,250/month for a one-bedroom to $4,699 for a 2BR. [Photo credit: Brownstoner]
202 8th Street
"luxury" rentalin Gowanus, which launched leasing last year. These days, you can rent a 1BR from $2,742/month to up to $2,995/month.
470 Fourth Avenue
Adam America Real Estate and Slate Property Group are in cahoots and doing all kinds of things on Fourth Avenue, including bringing this 12-story rental building to the Gowanus/Park Slope border. Aufgang Architects is designing, and the 105-apartment building will have parking for 36 cars and 53 bicycles, a gym, tenant storage, community space, and ground-floor retail.
535 Fourth Avenue
Oh hey, Adam America again. In April, Slate Property Group, Adam America, and AEW Capital Management signed a 99-year lease for a site on Fourth Avenue between 14th and 15th streets. The trio is planning a $100 million mixed-use development that will bring retail and 141 rental apartments to the Park Slope/Gowanus border. This project will (also!) be designed by Aufgang Architects and contain units ranging from studios to three-bedrooms, likely priced from $2,000/month.
550-554 Fourth Avenue
Just last month, prolific Brooklyn developer Boaz Gilad's Brookland Capital snatched up a bunch of plots of land at the corner of Fourth Avenue and 15th Street in Park Slope. And he's gonnawhat else?build condos. A 13-story building, designed by Roart, will house 45 of 'em, and 20 percent of the units will be affordable. [Photo: Observer]
635 Fourth Avenue
"Fourth Avenue in Gowanus Is Getting Donskoyed" is what we wrote when this project was announced. Bushburg Properties is developing the building, which will have 91 apartments, a commercial component, and a "community facility"; it's replacing the Seafarers International Union's Brooklyn Hall, which is sold its headquarters for what was probably a hefty price and is vacating New York City for the first time in nearly a century.
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