Google Earth aerial showing location of 80 Adams Street (CityRealty)
Buyers of the Jehovah's Witnesses’ extraordinary portfolio selloff in Brooklyn are wasting no time to begin redeveloping their sites. Yesterday, Jeffrey Gershon's Hope Street Capital filed a new building permit to build a 10-story, 165-unit residential building at 74-80 Adams Street in DUMBO. The Real Deal reported last May that Gershon had signed a contract to pay close to $60 million for the 24,000-SF parcel. The Watchtower had owned 74 Adams St. since 1975 according to the Brooklyn Eagle. It has long been occupied by a nondescript single-story vehicle-repair garage, for which a demolition application was filed this past September.
ODA New York is listed as the building's designer and has worked with Hope Street Capital on 22-22 Jackson in LIC.
The new building is detailed to rise just 120 feet tall, but encompass roughly 185,000 SF of construction floor area. The floor schedule shows there will be between 9 and 14 apartments per floor and shared perks include a common roof deck, recreation room, swimming pool and parking for 66 vehicles. The building will also be a short two-block walk to the York Street subway station serving the F line.
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The upper floors of 80 Adams will enjoy Manhattan Bridge and skyline views. To the south, the site overlooks the Brooklyn-Queens Expressway, giving onto views of Cadman Plaza Park and the Downtown Brooklyn skyline. Across Adams Street is the Beacon Tower where closed condo sales have averaged north of $1,100 a foot for the past 3 years.
Google streetview of existing building at the site
74-80 Adams Street site highlighted in red
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