NY YIMBY excerpt -
When we found out in July
that Muss Development and AvalonBay were planning to build a mixed
condo/rental building of around a quarter of a million square feet in
Sheepshead Bay, we knew something big was coming to the neighborhood.
But how big, we weren’t quite sure.
Now, we know: architect Perkins Eastman has filed for a new building
permit at 1501 Voorhies Avenue, and the tower will reach a whopping 333
feet into the sky, hitting 30 stories at its peak. The project –
situated on an oddly shaped parcel adjacent to the Brighton Line
elevated structure, overlooking the Sheepshead Bay express stop –
will be 280,000 square feet in total, mostly residential but with a
15,000-square foot commercial space.
The project will be a game changer for development in southern
Brooklyn, and will be the tallest building — by far — to go up in the
area since the post-war years. While the immigrant neighborhood is well
outside of AvalonBay’s traditional in-city orbit, it’s solidly within
Muss’s wheelhouse – the Forest Hills-based builder is most at home
beyond the gentrifying fringe, in areas like eastern Queens and southern
Muss already proved the market for luxury condos marketed
towards immigrants from the former Soviet Union in Brighton Beach with
their Oceana complex. While condos elsewhere in Sheepshead Bay and
Brighton Beach tend to sell in the $400s per square foot, units in
Muss’s Oceana towers have been fetching $600 a foot or more since the
market rebound. We expect similar pricing for the condos at 1501
Voorhies, which will make up for the lack of Oceana’s beachfront setting
with height that rivals anything else south of downtown Brooklyn.