NEW YORK | 626 Flatbush Avenue | 236 FT | 23 FLOORS

[NYguy]

http://therealdeal.com/blog/2013/02/...prospect-park/

Hudson Companies plans 254-unit residential tower near Prospect Park
Developer has not yet closed on Flatbush Avenue site





February 07, 2013
By Katherine Clarke

Hudson Companies, the development firm behind the Riverwalk neighborhood in Roosevelt Island, is keeping a hand in the game in Brooklyn. The company, which previously developed projects such as Third + Bond and the J Condominium at 100 Jay Street, has filed plans to build a 254-unit mixed-use building at 626 Flatbush Avenue in Prospect Lefferts Gardens, according to Department of Buildings records.

Hudson submitted plans for the 23-story tower to the city agency earlier this month but has not yet received any official permits. The architect of the project is listed in records as Jonathan Marvel of Rogers Marvel Architects, the same firm behind the controversial design of a 159-unit housing complex and 200-room hotel on Pier 1 at Brooklyn Bridge Park.

The company signed a contract of sale for the Flatbush Avenue development site in March 2012, according to public records, but has not yet closed on the site. The property, which was marketed by Ariel Property Advisors and is located between Parkside Avenue and Lincoln Road, is an L-shaped lot. The listing price was not available.

The site’s current owner, William Cordero, fell upon hard times financially at the site, filing for Chapter 11 bankruptcy protection early last year, court records show. Cordero listed his sole asset as the 30,000-square-foot, five-unit commercial building on the Flatbush site. The creditor with the largest secured claim against the property was AIA Capital, which was reportedly owed $6 million.

While it appears that Cordero has now exited bankruptcy, Hudson may have to wait for bankruptcy court approval before it’s permitted to close on the site.

Ariel Property Advisors declined to comment on when the deal for the property would close. Hudson Companies did not respond to requests for comment. A phone number for Rogers Marvel did not appear to be in use.

[NYguy]

http://a810-bisweb.nyc.gov/bisweb/Jo...ssdocnumber=01



Should be views over Prospect Park....

[NYguy]

http://therealdeal.com/blog/2013/03/...ment-mock-ups/

Hudson Companies, DDG partner with architecture students on development mock-ups

March 04, 2013
By Hayley Kaplan

DDG Partners and Hudson Companies have partnered with architecture students at the University of Virginia, who will put together plans for one of each developer’s residential sites in New York City. UVA’s “vertical neighborhoods” undergraduate class met the developers for the first time Sunday night at a cocktail party hosted by The Real Deal’s Amir Korangy, who put the companies in contact with the class.

Hudson and DDG each chose one of their sites to show the students — DDG’s 353 West Broadway, a former Tootsie Roll factory in Soho that is being converted into luxury condominiums, and Hudson’s new 23-story rental building at 626 Flatbush Avenue in Prospect Lefferts Gardens, Brooklyn. The 25 students will tour the development sites today.

David Kramer, a principal at Hudson, explained to the students at The Real Deal-sponsored event just how different the two projects are — one being in the center of Manhattan, the other in a “transitional” neighborhood of Brooklyn — and emphasized that the difference affects how developers tackle projects.

“What does a developer do? A developer says, ‘I think I can make this work. I think that with these land prices and with these construction costs and these kinds of rents I can make a decent return,’” Kramer told the students, their two professors and other guests gathered at Korangy’s loft in Midtown West.

Although it won’t be possible for the developers to actually use the students’ completed designs (due to timing and the myriad of hoops that architects and developers have to jump through to get certain regulations approved), Ghazal Abbasy-Asbagh, the students’ architecture professor at UVA, still hopes to provide something of a real-world experience.

The students had spent the weekend exploring Soho and Prospect Lefferts Gardens ahead of their formal tours of the two sites—“hardhats” and all, McMillan said....The students plan to complete the plans by early May, when their semester ends. McMillan and Kramer hope to visit the campus in Charlottesville, Va., for the students’ presentations.