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Old Posted Dec 23, 2016, 12:46 AM
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chris08876 chris08876 is offline
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Smile NEW YORK | 85 Jay Street | 250 FT | 21 FLOORS

May be 1000 or more units. Big development for the borough. I don't expect height, but it will be quite big, as is any 1000+ unit development.

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Jared Kushner closes on another Dumbo Heights property



Quote:
Jared Kushner has another Jehovah’s Witnesses site in his company’s development pocket.

On Tuesday, the former Kushner Companies (now called simply “Kushner”), along with Asher Abehsera’s LIVWRK and the CIM Group, closed on a $345 million purchase of 85 Jay St. in the same Dumbo neighborhood as the Jehovah’s Witnesses’ Watchtower Real Estate.

Bob Knakal acted as a consultant to Watchtower’s in-house group.

Now a parking lot, the full block can host an as-of-right 1.1 million-square-foot mixed-use development.

“This site has tremendous upside, and we’re looking forward to developing a project that will further enhance the area and help strengthen connections between the Dumbo Heights campus and the waterfront,” said Laurent Morali, president of Kushner.

The venture is assembling a team of architects and consultants. Shaul Kuba, co-founder and principal of the CIM Group, said that “85 Jay is one of the most incredible sites in our mind . . . and has been sitting there empty. Our goal is to use our current zoning and utilize it the best we can and work with the consultants and community [so it] will blend and fit in the community. We need to finalize the consultants and dive into it.”

Although neither Kuba nor Morali would be pinned down to a “program,” all signs point to a carefully planned site with mixed uses. And, despite the views, there won’t be any out-of-place super-tall towers.
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http://nypost.com/2016/12/20/jared-k...ghts-property/
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  #2  
Old Posted Dec 23, 2016, 3:38 AM
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Great news! I expected more big proposals from Jared Kushner now that he has a powerful relative. Seriously, what businessperson will say no to the guy now?
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Old Posted Aug 30, 2017, 1:13 AM
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https://therealdeal.com/2017/08/29/k...umbo-building/

Kushner Companies files plans for 737-unit Dumbo building
Property at 85 Jay Street to rise 21 stories



By Konrad Putzier
August 29, 2017


Quote:
Kushner Companies’ plans for a large luxury development in Dumbo are taking shape. The development firm and its partners CIM Group and LIVWRK filed plans to build a 21-story residential property at 85 Jay Street.

As The Real Deal reported, Morris Adjmi is designing the building. The 874,149-square-foot property would include 737 apartments spanning 812,978 square feet and 60,017 square feet of commercial space, public records show. Previous reports claimed the developers plan to build two towers with a combined 1.1 million square feet that will include both rental and condominium units.

According to the filing, the building will stand 250 feet tall.

The developers paid Jehovah’s Witnesses $345 million for the 135,000-square-foot site in December. The firms also bought the nearby Watchtower office complex from the religious organization for $340 million last year.
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Old Posted Aug 30, 2017, 1:26 AM
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http://rew-online.com/2017/08/29/kus...itnesses-site/

Kushner JV planning 737-unit tower at former Jehovah’s Witnesses site





BY CHRISTIAN BRAZIL BAUTISTA
AUGUST 29, 2017


Quote:
Plans call for 812,978 s/f of residential space, 60,017 s/f of commercial space and 1,154 s/f of community facility space. The property will contain condos and rental units, with rental and condo residents having separate lobbies and swimming pools. It will also have retail spaces on the ground floor and the mezzanine. Planned amenities include valet and parking spaces for 712 cars, a library, a lounge room, a game room, a screening room and an outdoor lounge.
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Old Posted Aug 30, 2017, 1:29 AM
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The parking component is unfortunate. The area is already traffic hell. Kinda a sting from this development. Unit could is lower than I expected. 737 is still nice, but it would of been better IMO for 900-1000 units, with no parking component.
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Old Posted Aug 30, 2017, 6:51 PM
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The residential, commercial and community spaces don't add up to 1.1 msf. Are they leaving unused air rights on the table? Or worse, using some for parking?
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Old Posted Aug 30, 2017, 10:12 PM
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I think its for parking, which is a shame. Underwhelming. And granted 700+ units in any development is a lot for any city, but this NYC, we have a higher standard. We need more units, and especially less parking being so close to transit hubs.
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Old Posted Sep 2, 2017, 11:38 AM
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its for parking and i would guess there are fewer apts than there could be because kushy is going for highend luxury pricing.
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Old Posted Sep 2, 2017, 2:36 PM
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That's crazy. Dedicating close to 300,000 sf of precious buildable space for parking. That's like forgoing 300 dwelling units. Is parking really all that in demand at that location? It's like one subway stop to Manhattan.

I'm assuming they can't put it underground because of the high water table. If it's below ground it does not get counted as usable FAR.
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Old Posted Apr 6, 2018, 3:32 PM
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Massings, Kushner has locked up financing, imagine this gets going very soon :



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Old Posted May 3, 2018, 2:43 PM
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Per DOB rules, rendering is up on site, permits are in place, along with financing. This should get going soon :



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Old Posted May 3, 2018, 11:51 PM
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Good use of land and a healthy residential addition.
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Old Posted May 4, 2018, 12:08 AM
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^ What's being built across the street?
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Old Posted May 4, 2018, 12:12 AM
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Quote:
Originally Posted by colemonkee View Post
^ What's being built across the street?
That pic is much older, but the project is 181 Front Street.





Was finished last year in the spring.
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Old Posted May 13, 2018, 2:50 PM
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Renderings:














Credit: City Realty
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Old Posted May 13, 2018, 3:29 PM
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Pretty damn cool. Is this the actual development or just some fantasy?
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  #17  
Old Posted May 13, 2018, 3:34 PM
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One of the proposals via Handel Architects. Morris Adjmi is the architect on record. This will probally change, but it will be a big project. Lotta potential.
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Old Posted May 16, 2018, 10:52 PM
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Handel should just go ahead and replicate the walled city of Kowloon on this site and call it a day.
But seriously ( and I like that proposal), Handel did the buildings next to St. John the Divine, I definitely trust them with this site if it comes to fruition, Adjmi not so much.
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Old Posted May 16, 2018, 10:53 PM
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I agree. I hope whatever manifests is good. This is a prime opportunity for some much needed units. Its looking like this is subject to change, I just again, hope this parcel isn't f'd up in the long-run.
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Old Posted Aug 8, 2018, 8:12 PM
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CIM Group closes on $600M loan for Brooklyn high-rise

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New York City developer CIM Group announced that it had secured a $600 million-plus construction loan for a three-acre, mixed-use high-rise residential project at 85 Jay Street in the Dumbo neighborhood of Brooklyn, New York. J.P. Morgan Chase Bank is providing the loan for the Morris-Adjmi-designed complex, which CIM is developing in partnership with mixed-use, urban developer LIVWRK.

The project's 730 units will be a mix of for-sale condominiums and rental apartments ranging from studios to four-bedroom floor plans and will include 90,000 square feet of retail, parking and amenities such as rooftop pools. The project is expected to be complete in 2021.
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