Nearly 50 Unit Building Coming To Crown Heights: Report

CROWN HEIGHTS, BROOKLYN — The early signs of a new residential building have been detected in northern Crown Heights, according to a local real estate blog.

At 527 Grand Ave., near Pacific Street, excavation has begun on a new nine-story building which will one day contain 46 apartments, 11 of which are marked as affordable, according to New York Yimby.

Designed by JFA Architects & Engineers and developed by Grand Units LLC, a sign on the construction fencing ambitiously declares the building will be finished by summer 2023, reports New York Yimby.

The lot was purchased by the current owners, Grand Units LLC, in early 2022 for $5.2 million, according to city records, and has since taken out an additional $13.9 million in loans against the property.

Grand Units LLC currently holds $18.1 million in debt at the property.