86 Fleet Place, the final and western-most installment of John Catsimatidis’ four-building master plan in Downtown Brooklyn, is rapidly continuing on its track toward completion on the corner of Myrtle Avenue and Fleet Place. The 350-foot tower has now received approximately 2/3 of its glass façade, following nearly a year and a half of construction. Expected to open in 2017, the 32-story building will bring 440 rental apartments to the neighborhood, with over 10,000 square feet of retail space on the ground floor. 29 of the building's units will be designated as affordable.
Designed by Goldstein, Hill & West, the building will feature multiple setbacks and culminate with a curved, fully glazed section that rises from the corner. Inside, residences will begin on the third floor and span an average of 871 square feet apiece. Amenities will include a fitness center, a rooftop terrace, a resident’s lounge, a children’s playroom, a party room, 143 parking spaces, and storage space for 220 bikes.
The building stands as the tallest and largest building of The Red Apple Group’s development, which spans a total of 2.5 acres with 900 feet of frontage along Myrtle Avenue between Flatbush Avenue Extension and Ashland Place. Catsimatidis purchased the four-block site for $500,000 in 1982 from Long Island University, with the intent to redevelop what was then a run-down retail strip. Now, the development has seen the completion of the 9-story Andrea, the 15-story Giovanni, and the 15-story Margo, each with their own slew of rental apartments for a grand total of 1,000 units.
Situated in Downtown Brooklyn, the properties stand nearby a myriad of subway options, including the B/Q/R trains at DeKalb Ave, the A/C/R trains at Jay St-MetroTech, the 2/3/4/5 trains at Nevins Street, and the G train at Hoyt-Schermerhorn.
Contributing Writer
Katy Cornell
Katy Cornell is a Long Island native with a passion for writing about real estate in the big city. She recently graduated from the University of Virginia with a BA in English and is a frequent contributor to CityRealty's Market Insight and NYC real estate blog 6sqft.
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