Notice · Property Disposition
Albee Square
- Agency
- Housing Preservation and Development published by agency
- Published
- 2017-05-19T00:00:00.000
- Event
- 2017-06-21T10:00:00.000
- Address
- 1 Centre Street
Notice text
<p> Pursuant to Article 15 of the General Municipal Law (“GML”) and Section 1802(6)(j) of the Charter, notice is hereby given that the Department of Housing Preservation and Development ("HPD") of the City of New York ("City") has proposed the sale of certain real property in the Brooklyn Center Urban Renewal Area (“Area”) to the New York City Economic Development Corporation, the sponsor designated by HPD (“Sponsor”), for redevelopment in accordance with the Fifth Amended Urban Renewal Plan (“Plan”) for the redevelopment of the area.</p> <p> </p> <p> The property to be sold is located in the Borough of Brooklyn, City and State of New York, and known as:</p> <p> </p> <p> <u>Address</u> <u>Block/Lot</u></p> <p> </p> <p> 418 Albee Square 146/42</p> <p> 416 Albee Square 146/ p/o 41 </p> <p> </p> <p> on the tax map of the City (“Disposition Area”).</p> <p> </p> <p> This submission is a proposed amendment (“Amended Project”) to a project previously approved by the Mayor on September 14, 2016 (Cal. No. 16) (“Original Project”). The Amended Project changes the use of the project to include community facility space, changes the sale price of the Disposition Area from one dollar per tax lot to one dollar for the entirety of the Disposition Area, increases the transferable floor area development rights from 140,000 square feet to 150,000 square feet, modifies the development rights transfer price, and changes the proposed building’s total floor area from approximately 431,775 gross square feet to a range of approximately 380,000 gross square feet to approximately 458,000 gross square feet, but is otherwise the same as the Original Project.</p> <p> </p> <p> Under the Amended Project, the City will sell the Disposition Area consisting of approximately 3,146 square feet to the New York City Economic Development Corporation (“Sponsor”) for the nominal price of one dollar. Sponsor will then convey the Disposition Area to JEMB Albee Square LLC (“Developer”) for the price of Four Hundred Fifty Six Thousand One Hundred Seventy Seven Dollars ($456,177). The conveyance of the Disposition Area to the Developer will be made pursuant to the terms and conditions of a contract of sale between Sponsor and the Developer. The Developer will then construct on the Disposition Area and the adjacent private lots (Block 146, Lots 11, 12, 43, 46 and 47, or “Private Lots”) a building containing a range of approximately 380,000 gross square feet to approximately 458,000 gross square feet of combined office, retail and community facility space (“Proposed Development”). The community facility space will accommodate a school (the “School”) to be built pursuant to the terms of a lease between the Developer and the New York City School Construction Authority (“SCA”).</p> <p> </p> <p> In connection with the Proposed Development, the City, pursuant to a Zoning Lot Development Agreement and Declaration of Zoning Lot Restrictions, will also transfer 150,000 square feet of floor area development rights from the adjacent City-owned property on Block 146, Lots 16, 17, 18, 23, 29, 34, 35, 36, 37 and p/o 41 to the Disposition Area and Private Lots for the negotiated price of Eighteen Million Two Hundred Ninety Three Thousand Eight Hundred Twenty Three Dollars ($18,293,823), of which up to Two Million Five Hundred Thousand Dollars ($2,500,000) may be reimbursable to the Developer for construction costs associated with construction of the School, provided that the School meets the approval of SCA. </p> <p> </p> <p> In addition, the City will grant a Light and Air Easement and an Access Easement on the adjacent City-owned lots (Block 146 Lot 37 and p/o Lot 41) for the benefit of the Disposition Area. The Access Easement will allow entrance and exit from the ground floor retail within the Proposed Development and emergency access directly across a planned public open space plaza (“Willoughby Square”) that will be developed adjacent to the Disposition Area. The Light and Air Easement will allow windows on the north façade of the Proposed Development that will face onto Willoughby Square. </p> <p> </p> <p> The appraisal and the proposed Land Disposition Agreement are available for public examination at the office of HPD, 100 Gold Street, Room 5-I, New York, New York on business days during business hours.</p> <p> </p> <p> </p> <p> PLEASE TAKE NOTICE that a public hearing will be held on June 21, 2017 at 10:00 am at One Centre Street, 20<sup>th</sup> Floor North Elevator Conference Room D, 1 Centre Street, Manhattan at 10:00 a.m., or as soon thereafter as the matter may be reached on the calendar, at which time and place those wishing to be heard will be given an opportunity to be heard concerning the proposed sale of the Disposition Area pursuant to Section 507(2)(d) of the General Municipal Law and Section 1802(6)(j) of the Charter.</p> <p> </p> <p> Individuals requesting sign language interpreters should contact the Mayor's Office Of Contract Services, Public Hearings Unit, 253 Broadway, Room 915, New York, New York 10007, (212) 788-7490, no later than five (5) business days prior to the public hearing. TDD users should call Verizon relay services.</p> <p> </p>