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NYguy Nov 12, 2012 10:02 PM

NEW YORK | 300 Livingston St | 250 FT | 25 FLOORS
Taken from the Hub thread....

Huge Downtown Site up for Grabs

By Cate | 10/12/2012


An unusually large building site, nearly 600,000 square feet, is up for sale in the downtown area, according to Massey Knakal Realty Services, which is marketing the property. Right now, it contains a building with shops on the street and a parking garage above, but this could be torn down to make way for a mixed-use development, according to the firm.

Current tenants at the building, which is located at 300 Livingston Street between Bond and Nevins, include Subway, IHOP, Papa John’s and Enterprise Rent-A-Car.

NYguy Nov 12, 2012 10:05 PM

Site marked with an X, bottom right...

Swede Nov 13, 2012 8:28 AM

Soon it'll be 10 years since I was in NYC and DT BK sure has changed already, but all the towers about to go up... wow! Can't wait to go back.
/if only I had the money, we'd go soon. and stay for a week.

NYguy Nov 19, 2012 6:55 PM


Originally Posted by Swede (Post 5899693)
Soon it'll be 10 years since I was in NYC and DT BK sure has changed already, but all the towers about to go up... wow! Can't wait to go back.
/if only I had the money, we'd go soon. and stay for a week.

I think of all the areas, Downtown Brooklyn has changed the most in New York.

Thor to sell mammoth development site in Downtown Brooklyn
More than 500,000 square feet can be built on site acquired for $1 in 2003

November 19, 2012
By Katherine Clarke


Joseph Sitt’s Thor Equities is selling a 600,000-square-foot mixed-use development site in Downtown Brooklyn. The block-through site, at 300 Livingston Street, is currently home to a five-story parking structure with ground-floor retail tenants. The property is being marketed by Massey Knakal Realty Services. The parking facility could easily be cleared to pave the way for 500,000 square feet of development, thanks to termination provisions in the leases of most of the complex’s tenants. The gross revenue from those leases totals $1.82 million annually, Massey Knakal said.

The site runs the length of Bond Street, from Livingston to Schermerhorn Street. Zoning restrictions allow for 500,000 square feet to be built on the site but that number can be increased by 20 percent by making use of an inclusionary housing program.

Massey Knakal is accepting bids on the site until December 5, the brokerage said.

Thor acquired the site for $1 in 2003 from the New York City Economic Development Corporation, which selected the company to upgrade the city-owned structure.

NYguy Apr 10, 2013 6:17 PM

Developer pays $75M for downtown Brooklyn site
The property could accommodate a residential tower of as much as 600,000 square feet,
in an area that has seen a huge boom in high-rise residential construction in the last few years.

By Daniel Geiger
April 9, 2013


Developer TF Cornerstone has purchased a large parking garage and retail property in downtown Brooklyn from Thor Equities, paying roughly $75 million.

The site, at 300 Livington Street, can accommodate up to 600,000 square feet of residential development in a neighborhood that has experienced a huge boom in high-rise residential construction in the last few years.

The property currently has a 230,000-square-foot parking garage with ground floor retail space.

The deal is one of several development parcels to trade hands in recent months, as builders have become eager to get in the ground again with residential projects to meet rising demand and prices.

TF Cornerstone has been an active residential developer and is in the process of constructing a large complex of rental buildings in Hunters Point, Queens.

Robert Knakal, chairman of the brokerage company Massey Knakal Realty Services, handled the sale of the downtown Brooklyn property.

Perklol Jan 21, 2014 12:04 AM


Originally Posted by NYguy (Post 5899186)
Site marked with an X, bottom right...

It's close to 388 Bridge street and other high rise buildings. Speaking of 388 Bridge Street, DT Brooklyn seems empty without it.

NYguy Jan 21, 2014 1:20 AM

^ Not to mention Citypoint.

Livingston Street: Exotic, offbeat, gritty, now slated for mainstream

By Lore Croghan
Jun 21, 2013


Big developments are percolating on Livingston Street – and before you know it, new retailers will want in on the action, real estate executives predict.

With a hodgepodge of 99-cent stores, furniture sellers, salons and the backside of Macy's – the blank-faced side that doesn't have display windows – the street is about as unglamorous as it gets for Downtown Brooklyn retail corridors.

But two high-profile apartment projects at 276-300 Livingston and 350 Livingston, near the Flatbush Avenue end of the thoroughfare, will fire up restaurant owners' and merchants' interest in the street, brokers believe. Livingston Street will start getting serious consideration from tenants being priced out of the hotter-than-ever Fulton Mall.

Though the transformation is expected to take several years, optimism is starting to stir. “Things are finally looking up,” said Isaac Mograby of Crown Retail Services, the leasing agent for 253 Livingston, where a Planet Fitness gym moved in. “There's a boost in the morale on Livingston.”

.....Doug Steiner of Steiner Studios is building The Hub, a skyscraper with 700-plus rental apartments and 50,000 square feet of shops at a site that includes 350 Livingston and property on Schermerhorn Street and Flatbush Avenue.

Upscale amenities will include a concierge, a terrace with a sundeck, a grilling terrace, a fitness center, a yoga studio, a dog run and bike storage for every unit. Demolition is now underway at 350 Livingston, which was an office building.

TF Cornerstone – a company created by two high-profile developers, brothers Tom and Fred Elghanayan – is building 600 apartments at 276-300 Livingston, according to a published report from CoStar Group. A parking garage and storefronts now occupy the site.

As the two projects move forward, retail rents on Livingston will rise 20% to 25%, Mograby predicted. “Livingston Street will undergo a rare transformation,” predicted another broker, CPEX Real Estate Managing Partner Timothy King. “You'll see Reilly's law of retail gravitation: Given a choice, people go to where the action is.”

At the parking garage where Cornerstone is constructing an apartment building, tenants have been told to vacate by Dec. 31. However glad they are that development will boost Livingston Street's prosperity, it pains them to go.

“It's a sad feeling to leave when you are established, you are recognized in the neighborhood,” said Victor Vora, who pays $35 per square foot rent for a storefront for his Greyhound bus station franchise. “We're all scrambling to find the right locations.” His soon-to-be displaced neighbors at the garage building include an IHOP pancake house and Papa John's pizzeria. Vora has brokers seeking sites on Livingston as possible places to relocate; he needs a 1,500-square-foot space on a street wide enough for buses to pull in for stops. It must be close to the Manhattan Bridge, which the buses cross to make pickups at the W. 42nd St. Port Authority Bus Terminal.

Cornerstone reps told tenants they hope to break ground next spring on the new apartment building, which will be more than 30 stories tall and will have space for shops, Vora's son Alap said.

Another project that will add further luster to the street is planned at 210 Livingston, a building the late Charles Benenson bought in 1971. The office property's former tenant was the city Human Resources Administration. Landlord Benenson Capital Partners and apartment developer Rose Associates plan to construct a new 300-unit rental apartment building with street-level retail space. There's scaffolding up, asbestos abatement notices are plastered on the front door and the city Department of Buildings has approved the demolition of the 11-story property.

More changes in historic Heights

By Lore Crogh


Are high-profile builders Tom and Fred Elghanayan looking to make their big development site on Livingston Street even bigger?

The two brothers – whose company TF Cornerstone owns a blue-chip portfolio of New York City apartment properties and Manhattan and Washington office buildings – are planning their Downtown Brooklyn debut at 276-300 Livingston St.

Last spring, Cornerstone paid $70 million for this parking garage with storefronts housing an IHOP pancake house, a Greyhound bus station and several other tenants. The developers plan to clear the site for 600 apartments.

Now, the word on the street is they've got their eye on a neighboring office building, 285 Schermerhorn St. It's directly adjacent to the parking garage, which is a block-through corner property with frontage on Schermerhorn as well as Bond Street.

The Schermerhorn Street building, constructed in 1927, belongs to a nonprofit with serious longevity, Brooklyn Community Services. The organization – which has been around since 1866 and has been known over the years as the Brooklyn Bureau of Charities and the Brooklyn Bureau of Community Service – is headquartered in the seven-story property.

The coffers of the social services provider – which began its operations with a shelter for homeless newsboys in Brooklyn Heights – would benefit from the nice chunk of change the building could command if sold as a development site.

There's 105,000 buildable square feet, real estate database indicates – which could be worth $200 per buildable square foot, or $21 million, a real estate source told the Eagle.

The BCS building has been drawing would-be buyers' attention since the parking garage next door changed hands.

“We had explorations from half-a-dozen different developers,” Marla Simpson, executive director of Brooklyn Community Services, told us. “We're in listening mode,” she said.

One thing's for certain, Simpson added: “We intend to remain in Downtown Brooklyn.”

A source said BCS honchos are working with a number of city agencies to come up with a plan for how to proceed.

The Elghanayans are keeping silent on the subject of their development site's neighboring building.

“At this time, TF Cornerstone does not have a comment on this,” a spokeswoman said.

Their project is one of two mammoth apartment developments that promise to transform decidedly unglamorous Livingston Street and draw retailers priced out of nearby Fulton Mall, as we previously reported. The other is Doug Steiner's residential skyscraper at 350 Livingston St.

Perklol Jan 21, 2014 1:59 AM

Great updates! They can bump up to 700k sf if they buy the office building.

NYguy Jan 21, 2014 2:42 AM


Originally Posted by Eveningsong (Post 6415056)
Great updates! They can bump up to 700k sf if they buy the office building.

Possibly more, but I don't know what the current state of that is. This site is basically the block over from "The Hub", another 500 footer going up in Brooklyn.

chris08876 Jun 27, 2014 5:06 PM

A repost; was in the high rise thread. Anyways, here is the project for this corresponding thread:


The design for TF Cornerstone's "massive apartment complex" on Brooklyn's Bond Street has finally been unveiled. New York YIMBY got the first glimpse, plus, in an interview extracted from developers Tom and Fred Elghanayan (get it? TF?), learned that it will be 25 floors and 714 units. Of those, 20 percent will be affordable. The site, whcih toes the line between Downtown Brooklyn and Boerum Hill because of its location between Schermerhorn and Livingston streets, is currently a parking lot. Of course it's getting torn down; join the club. The future 33 Bond Street is entering the demolition and construction phase now.

Perklol Jun 27, 2014 9:30 PM

I like the multi-colored facade. Overall not bad but not exciting either. B-

sbarn Jun 27, 2014 10:30 PM

Seems like a missed opportunity. Not bad but something taller / more slender would have been nicer.

NYguy Jun 28, 2014 1:26 PM

Could have been better, but it's a lot better than that parking garage.

chris08876 Apr 7, 2016 3:47 PM

TF Cornerstone Is Latest Developer to Set Its Sights on DoBro


Before the New York City Department of City Planning rezoned Downtown Brooklyn in 2004, the neighborhood was one in which the sidewalks were rolled up after 6 p.m. The area only had one major hub: the MetroTech Center, which was developed in the 1980s.

But in the last decade, the business district between Brooklyn Heights, Boerum Hill and Fort Greene has become one of the hottest places to develop residential buildings in the borough, even if that wasn’t the intent of the 12-year-old zoning policy enacted in 2004.

TF Cornerstone is joining a range of other big developers in Downtown Brooklyn, from Douglas Steiner to John Catsimatidis, (and not to mention a few marquee project names such as the Ace Hotel, which is going to be opening on the corner of Bond and Schermerhorn Streets) as it prepares for the launch of its first multifamily project in the borough. The development at 300 Livingston Street, which is slated to come online by mid-2017, will stand at 25 stories and contain 714 units, 20 percent of which will be affordable, along with two floors of retail. That 55,000-square-foot retail component is key to what TFC is trying to do for the neighborhood, executives at the firm told Commercial Observer.

“[What] was very interesting here, which we don’t typically have the opportunity to do when we go into emerging markets, is being able to create a very attractive retail component,” said Jeremy Shell, the head of finance and acquisitions at TFC. “Usually you’re creating amenity retail, and you’re losing money on the retail to create the neighborhood. And here, because of what Downtown Brooklyn has become and is going to become, we think we’re going to do something really special.”

antinimby Apr 7, 2016 7:40 PM


"We think we're going to do something really special"
Um, how about starting with the architecture of the building? That box is not "something really special."

chris08876 Jun 26, 2016 2:31 AM

Under Construction :cheers:
Credit: Tectonic


Permits Filed: 33 Bond Street

The building has the bulk of an old pre-war, only rising 25 stories despite its sizable 734,232-square foot construction floor area. Zoning limits the project’s height to 250 feet, which is ahistorical given the nearby 512-foot Williamsburgh Savings Bank Tower, and especially silly given the similarly-sized towers that will rise at Atlantic Yards. Net residential floorspace totals 564,480 square feet, which will be divided among 714 apartments, 20 percent of which will be let at below-market rates; 33 Bond will also include nearly 30,000 square feet of retail space.

chris08876 Dec 16, 2016 2:44 AM
Credit: JC_Heights

chris08876 Jan 13, 2017 2:26 PM
Credit: rbrome

chris08876 Jan 14, 2018 3:34 PM

Complete :cheers:

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