What’s up with Downtown Brooklyn residential construction? Part Two

Eye On Real Estate

September 17, 2014 By Lore Croghan Brooklyn Daily Eagle
Rising up: Downtown Brooklyn towers overshadow the Avalon Willoughby West development — for now. When completed, the new building will be Brooklyn's tallest.
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So much to see.

Eye on Real Estate is doing its periodic check-up on the latest Downtown Brooklyn residential development.

There’s too much to shoehorn into a single story, so we’ve divvied up the sites into three digestible tales.

In this one, the developments are near Flatbush Avenue Extension, or right on it.
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News for those who live, work and play in Brooklyn and beyond

Avalon Willoughby West, 100 Willoughby St.

The structural framework of Avalon Willoughby West has risen several stories above its construction fence.

Give it time — and this 57-story residential skyscraper that AvalonBay is building at 100 Willoughby St. will become the tallest tower in Brooklyn, its height just barely surpassing that of neighboring 388 Bridge St.

A spokesman for AvalonBay confirmed that 100 Willoughby will have 826 rental apartments, and told Eye on Real Estate the process of marketing them will start next spring.

The first apartments should be ready for occupancy next July or August and construction should be completed in September 2016, he said.

Readers with long memories will have a sense of déjà vu — that’s pretty much the same thing we were told in August 2013. That’s a good thing. It suggests the project is moving forward on schedule.

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City Point, 70 Fleet St. and 336 Flatbush Ave. Extension

Two rental apartment towers are starting to soar at City Point, the 1.8 million-square-foot development that Washington Square Partners and Acadia Realty Trust are building on the site of the former Albee Square Mall.

Shoppers know City Point by the already finished Fulton Mall-facing retail building at 1 DeKalb Ave. that houses Armani Exchange.

From Flatbush Avenue Extension, the project has an entirely different — and quite dramatic — look, with new construction topped by yellow panels that glow like a golden crown.

We got word from a spokeswoman for the developers that the anticipated completion date for 250-unit Tower 1 is the end of next year, and half the apartments in the building will be affordable.

This building, whose address is 70 Fleet St., will be 27 stories tall, city Buildings Department filings indicate.

The anticipated completion date for 440-unit Tower 2 is mid-2016, the spokeswoman said.

This building, whose address is 336 Flatbush Ave. Extension, will be 38 stories tall, according to Buildings Department records.

By the way, commercial tenants headed for City Point include Alamo Drafthouse Cinema, discount fashion powerhouse Century 21 and City Target, which is a smaller-format version of popular (or at least it’s popular with people whose credit and debit card info didn’t get stolen) retailer Target.

Also by the way, the architect of record for the two residential towers is SLCE Architects — which is also the designer of nearby Avalon Willoughby West.
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340-366 Flatbush Ave. Extension

Plans have been drawn up for a 70-story skyscraper — which would knock the other contenders for Brooklyn’s tallest building out of the running — at a site that’s sandwiched between City Point and iconic cheesecake purveyor Junior’s Restaurant.

The existing office building at 340-366 Flatbush Ave. Extension hasn’t yet been demolished. But this is where Michael Stern’s JDS Development intends to build a 775-foot tower with 495 apartments and 109,000 square feet of commercial space, a city Buildings Department filing indicates.    

A tip of the hat to website New York YIMBY (which stands for Yes In My Back Yard) for being the first to write about the 70-story skyscraper, and which noted the Chetrit Group is also involved in the project.

An LLC for which Stern is the authorized signatory bought the property in late May for $43 million, city Finance Department records indicate.

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