856 Washington Avenue (Valyrian Capital)
It was a sad day in Brooklyn history when the Neoclassical-styled Greenpoint Savings Bank building at 856 Washington Avenue came down. Positioned near the summit of Prospect Heights, near the Brooklyn Museum of Art, the stone structure, with its two mighty Corinthian columns and great arched window, could possibly have lasted for millennia rather than the 87 years it stood at the site. Now, with the gem all but a forgotten memory, Valyrian Capital and the Daten Group are building a contemporary 14-story, 26-unit condominium building in its place. In May, we posted the isometric drawing displayed on the construction fence and now, Valyrian Capital has published the first full rendering on their website.
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A recent pass by the site shows the building is just about halfway up. The building is being fashioned by the adept firm of Kutnicki Bernstein Architects, which has shaped a number of middling residential buildings in Brooklyn such as 670 Pacific Street and 178 North 11th Street. Here they take it up a notch with respectful setbacks, large inset windows, and a creased southern elevation the yields a terrace.
The development team purchased the property for $6.5 million in 2014 and swiftly moved ahead with demolition and construction. The Prospect Heights / Crown Heights border has been rife with construction activity and small- to mid-scale multifamily projects have risen on underbuilt sites up and down Washington Avenue. 856 Washington will be the thoroughfare's tallest, topping out at 158 feet according to paperwork submitted to the Department of Buildings. The site is already at an elevation of 150 feet, thus every floor higher than the neighboring 5-floor building will have enviable views of the Manhattan and Brooklyn skylines.
856 Washington Avenue's progress as of late October (CityRealty)
Valyrian’s website released no further information about the venture. Considering its prime location and breakdown of just 3 units per floor, we’re expecting a condominium. Per our sales data, Prospect Heights condos have closed at a median PPSF of $1,334, a figure that has been buoyed by the recent closings at Pacific Park’s 550 Vanderbilt. As for available condos, the neighborhood’s 31 listed units have a median price per foot of $1,392 or $1.685 million.
Google Earth aerial showing location of 856 Washington Avenue (CityRealty)
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