Another new residential project in sight for Gowanus

Another new residential development is on its way to Gowanus, more than two years after the neighborhood's rezoning.Developer Michael Khoo is planning a project at 557 Third Ave., located between 14th and 15th streets in the Brooklyn neighborhood, that will span about 30,000 square feet with 41 residential units, according to a recent filing with the Department of Buildings. The project will stand 6 stories and 70 feet tall and include 21 parking spots as well.A Sunset Park-based limited liability company bought the site under the name Robert Khoo in September for about $7.4 million, property records show; commercial real estate database CoStar, however, lists the property owner as Huat Khoo. Huat Khoo did not respond to a request for comment on the project by press time. The relationship between Robert and Huat Khoo was not immediately clear.The site is currently home to a 2-story industrial building spanning 10,600 square feet, according to CoStar. Demolition permits for the site have not been filed yet.Gowanus has seen a major influx of projects since the end of 2021, when the city rezoned the neighborhood, which former Mayor Bill de Blasio's administration estimated would bring roughly 8,000 new housing units to the neighborhood, more than 3,000 of which would be affordable. An analysis last year from Brooklyn-focused brokerage TerraCRG found that there were 25 projects with about 6,300 overall housing units in the neighborhood's development pipeline.Over the summer... Continue reading at 'Crains New York'

[ Crains New York | 2024-03-05 18:08:04 UTC ]
News tagged with: #15th streets #recent filing #property owner #huat khoo #press time #immediately clear #demolition permits #major influx #city rezoned #administration estimated #housing units #development pipeline #summer gov #resume owning #properties outright #privately owned

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