This week New Empire Corp. announced a 150-unit condominium development in Flatbush, Brooklyn following the acquisition of two neighboring lots at 757-767 Flatbush Avenue and 21 Lenox Road. Valued at $18 million, the assemblage comprises 37,793 square feet and is currently occupied by several low-rise retail properties.
When complete, the residential volume will include a mix of one- and two-bedroom units, plus a collection of unspecified indoor-outdoor amenity spaces. The ground floor will also include a small retail volume.
The development is New Empire Corp.’s fourth acquisition in recent years. Previous projects include a 19,000-square-foot site at 58-01 Queens Boulevard in Woodside, a 9,000-square-foot site at 24-01 Queens Plaza North in Long Island City that will break ground next spring, and 429 Second Avenue in Kips Bay, which is expected to break ground later this year.
New Empire Corp. has not announced an anticipated project schedule for the Flatbush development, nor when it expects the project to be completed.