October 24th, 2014
This past summer Crow Hill Development sold their 100,000-square-foot mixed-use development site on Franklin Avenue in Crown Heights to 608 Franklin Avenue LLC for $17.5 million. They originally purchased the site back in 2008 for $7.5 million, according to the Real Deal. The site was once the home to the Nassau Brewery and after that the H.J. Heinz Company. Crown Hill development had big plans to develop the site but the firm lost construction financing after the economic crisis and decided to sell.
The new developer now has plans to build a box shaped eight-story, 130,000-square-foot apartment building. The new 120-unit rental property will occupy a full block between Bergen and Dean streets. Eran Chen of ODA Architecture is handling the design. There will be rentals ranging from studios to two-bedroom apartments. There will also be retail spaces available with 19,000 square feet. Located on Franklin Avenue in Crown Heights, this area has become one of Brooklyn's most active neighborhoods for developers and new businesses over the past decade.