The 60-story Brook (proper) will rise in downtown Brooklyn close to Albee Sq.
NQS Inventive
Simply in time to beat the expiration of the state’s 421a tax-abatement program, developer Steven Witkoff and Apollo broke floor final week on The Brook, a 600-foot-tall rental condominium tower at 589 Fulton St. in downtown Brooklyn’s Albee Sq. space. The constructing may have 591 residences and 42,000 sq. ft of retail house.
The 421a program, which affords residential builders sure tax abatements for offering inexpensive housing models, ends on June 15 — to the dismay of actual property builders and to many proponents of inexpensive housing development. To appreciate a 35-year tax profit, 30 % of the Brook’s models will likely be inexpensive and unfold all through the constructing. The primary move-ins are scheduled for late 2024.
The tower designed by Beyer Blinder Belle additionally boasts 30,000 sq. ft of indoor and out of doors tenant facilities. It's subsequent door to 555 Fulton St., the deliberate glass-wrapped, low-rise retail constructing additionally by Witkoff and Apollo on the wraparound nook of Fulton Road, DeKalb Avenue and Bond Road.
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