Development Watch: 314 12th Street

UPDATE: NY Massey Knakal Realty Services has sold a tear-down, 2-family home with plans for new development at 314 12th St. in Park Slope for $1.35 million.
The property sold for $180 per s/f to a New Jersey developer. NY Real Estate Journal


Plans have been filed and approved June '07 for a new building at 314 12th Street in Brooklyn. No new construction permits have actually been issued as of today. No demolition permits issued as of today. No construction fence is in place.

Approved plans indicate 5 story, 50' tall structure with 5 units of housing to be built on the 25'x100' lot in a R6B zone.
There are several 311 complaints concerning the unguarded, unsealed, vacant condition of the building dating back to July '07.

"THE ABOVE PROPERTY IS AN ABANDONED HOUSE. THE FRONT DOOR IS WIDE OPEN AND ACCESSIBLE TO ANYONE"

Three Environmental Control Board Violations resulting from the building being vacant and deteriorating:
"FAILURE TO MAINTAIN EXTERIOR BUILDING DEFECT NOTED: 2 FRONT WINDOWS AT 2ND FLOOR LEVEL WINDOW FRAME IS MISSING FROM THE WINDOW OPENING THUS OPEN TO THE ELEMENTS.
REMEDY: SEAL THE WINDOWS ON 2ND FLOOR.

Owner: CORPORATION Non-Profit Flag: N
Nesbit, Robert Pres
314 12th Street LLC 55 W21st Street 212 675 - 3429
NYC NY 10010

CORPORATION:
Mandanas, Mary E VP
55 W12th Street NYC NY 10010 212 675 - 3429

314 12th Street Ordered to Stop Work.

"Hereby ordered to immediately stop all work at the above premises, because of a Violation of Section BC3301.2 of the Administrative Code and/or the Zoning Resolution of the City of New York or because work was being performed in a dangerous or unsafe manner."

Violation # 073108CEX02AD5 7/30/2008
DOB Property Profile
IMBY Development Watch: 314 12th Street


















































314 12th Street back in February before demolition.

322 12th Street fenced.

Tear Downs @ $188 per buildable foot
Looks like another wood framed 25 footer is about to meet its maker. New building permits for 322 12th Street are on the books, and the plywood fence is up, signaling that the demo is on the way.
Seems the property changed hands in February of this year for $1.23 million?
Back on November 2007 when 322 was for sale, Brownstoner.com posted a story about a bidding war breaking out at the open house, driving the price up 25% over asking. Here's the link. There are something like 99 comments to look back through. Always interesting to see the different mindsets at work. In the end all the discussion points about the potential renovation costs are moot. Developers are lovin' these 25' wide lots. That extra 5 feet of width is the kiss of death for these old stick built 1 and 2 family homes. They're going quickly all over the R6B zoned South Slope and Green Wood Heights. Another tear down on the block, 314 12th Street, recently sold for $1.35 million and has already "broken" ground.




Architect for this project:
ROBERT PALERMO CORPORATE DESIGN OF AMERICA PC

4 dwelling units
Looks like another 50' tall, 4 story with mezzanines, type of a building is coming your way.