Real Estate
Mayor Adams Proposes Building 2nd-Tallest Residential Tower In Brooklyn
The proposed residential tower will around 1,200 new apartments, officials said.
BROOKLYN, NY — Mayor Eric Adams has proposed a plan to build a high-rise apartment tower that would be the second-tallest building in Brooklyn, according to multiple media reports.
Adams announced the plan at a forum sponsored by The Real Deal on Wednesday. It would turn an existing building at 395 Flatbush Avenue Extension into a 840-foot-tallhigh-rise residential tower.
If developed, the site would fall just behind of the Brooklyn Tower, which is 1,066-feet-tall.
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The residential tower will around 1,200 new apartments, Commercial Observer reported.
"All on top of one of the biggest transit hubs in the city. The new 395 Flatbush will be a major addition to the skyline, towering high as the second-tallest building in Brooklyn," Adams said at the forum.
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A portion of the apartments, — about 300 to 360 — would be permanently affordable for people earning at or below an average of 80 percent of area median income, Commercial Observer reported.
The project would be led by development firms Rabina and Park Tower Group, as well as working with the city’s Department of Housing Preservation & Development.
The two developers control the site through a ground lease that runs until 2072. The team is currently working to upzone the site as it is zoned for commercial use, according to the report.
“I’m here to support my developers and not fight with my developers,” Adams said.
"This project will be built on a city-owned site, use tools we run from Albany, and take advantage of the City of Yes for Housing Opportunity,” Adams added. “And because we’re opening up such strong sites for development, we’re able to do this without any city capital subsidies, letting us invest that money in other critical projects.”
The site could also include 10,000 square feet of green space and infrastructure improvements outside the building.
In addition, developers have included a renovated public entrance for the DeKalb Avenue subway station, and expanded sidewalks along Flatbush Avenue. 66,000 square feet of retail space and another 75,000 square feet of commercial space would finish out the building, according to the report.
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