Developer Jeffrey Gershon of Hope Street Capital has locked up the entire southern blockfront of Atlantic Avenue, between Vanderbilt and Clinton, with 99-year leases for two sprawling parcels at 529 Vanderbilt and 809 Atlantic. It is expected to take on a 550 Clinton address.Actually, this is the north side of Atlantic Avenue, at Vanderbilt Avenue, opposite McDonald's and catercorner to the Atlantic Yards/Pacific Park site. It's currently occupied by Atlantic Hand Wash at the corner and other auto uses. There's a lot of traffic, of course, but the neighborhood is changing.
The site — home to ramshackle car washes and repair joints — is opposite the McDonald’s and the Pacific Park project. Up the block, a 2012-era rental at 525 Clinton has shown the area is ripe for modern apartments.
Sunday, November 29, 2015
Developer buys auto-related lots catercorner to NE edge of Atlantic Yards/Pacific Park, plans apartments on Atlantic
From the New York Post 11/24/15
The Pacific Park building at that corner, B10, is tentatively scheduled to open in 2019, the first tower to be built on a deck over the Vanderbilt Yard.
Gershon is bookending the Atlantic Yards/Pacific Park site, more or less. As reported last April by the Real Deal, Gershon and partner AEW Capital bought a Walgreen's site on Atlantic Avenue in Boerum Hill, at 520-528 Atlantic Avenue (at Third Avenue), and is planning condos there.