Brownstoner

Corner of 3rd Ave and Bergen May One Day Look Like This

May 7, 2012

On Friday, Crain’s brought word (and the new rendering above!) of plans for the long-stalled site at 3rd Avenue and Bergen Street, which had been on the market for $7 million. According to the story, the site has new owners—the Naftali Group and AEW Capital Management—who intend to build an 85-unit, luxury rental. Here’s the scoop:

The new development is near the long-awaited Whole Foods market that was recently approved for construction at Third Street and Third Avenue, next to the Gowanus Canal. It will include a health club, a resident lounge, a courtyard and roof deck with views of both Brooklyn and Manhattan. The Park Slope area has attracted a number of institutional investors in recent months. In December, Invesco paid a reported $57.5 million for a 95-unit residential building called Arias Park Slope., which was conceived as a condo but was later converted into a rental. Currently apartments in the area are fetching per-square-foot rents close to $54—almost $10 more than the prices they commanded a year ago.

It’s true that the building will only be .7 miles from the coming Whole Foods. It will also be .3 miles away from the Barclays Center.