86 Fleet Place

affordable housing, Downtown Brooklyn, housing lotteries, New Developments, Rentals

Rendering of 86 Fleet Place via Goldstein, Hill & West (L); Construction as of October 2016, via CityRealty

Way back in 1982, the CEO and owner of Red Apple Group, John Catsimatidis (you may know him better as the billionaire owner of Gristedes or for his failed Republican run in the last mayoral election) paid $500,000 for a 2.5-acre, four-block site in Downtown Brooklyn, on the western edge of Fort Greene. Thirty-five years later, construction is wrapping up on the final, and by far the tallest, of the four-tower development. The curving glass building at 86 Fleet Place was designed by Goldstein, Hill & West and will rise 32 stories/350 feet and house 440 rentals, 29 of which are set aside as affordable and have just come online through the city’s affordable housing lottery. They range from $833/month studios to $1,247/month three-bedrooms and are available for those earning 45 to 60 percent of the area media income.

Find out if you qualify here

affordable housing, Downtown Brooklyn, Fort Greene, New Developments, Rentals

Red Apple Group, John Catsimatidis, Brooklyn rentals, Dattner Architects, Goldstein Hill & West, Brooklyn developments

Construction has begun on the final building of the four-tower development on the western edge of Fort Greene. The 32-story tower at 86 Fleet Place will house 440 rental units and will be the culmination of a 15-year redevelopment of a low-slung, Robert Moses-era retail strip along Myrtle Avenue.

The developer of 86 Fleet, and three other sibling buildings to the east, is Red Apple Group’s CEO and owner John Catsimatidis, who we might better remember as the billionaire Republican candidate in the last mayoral election and the owner of the oft-maligned Gristedes grocery store chain. According to the Wall Street Journal, Red Apple picked up the 2.5-acre, four-block site for $500,000 from Long Island University in 1982. The site spans 900 feet along the southern frontage of Myrtle Avenue, between Flatbush Avenue Extension and Ashland Place, and shares its blocks with the Toren condominium to the west and the Fred Trump-built University Towers complex to the south.

More details on the development

Real Estate Wire

Morris Adjmi, Red Hook, 160 Imlay
  • Listings hit for 160 Imlay, the Morris Adjmi-designed conversion in Red Hook. [Brownstoner]
  • Commercial building sales expected to top $52 billion this year, the highest since 2007. [Daily News]
  • Jets owner Woody Johnson lists 834 Fifth Avenue duplex for $75 million. [New York Post]
  • Developers bring back plans for mixed-use complex in Sunset Park. [Brooklyn Paper]
  • Renderings revealed for 86 Fleet Place, John Catsimatidis’ 32-story, glassy residential building in downtown Brooklyn. [Yimby]

Images: Interior rendering of 160 Imlay, via Douglas Elliman (L); Rendering for Sunset Park development via Raymond Chan Architect (R)