218 Front Street Update 10/13/22

Developer Lands $135M Loan for Vinegar Hill Rental Project

Developer and general contractor, , has secured a $135 million loan for a 7-story residential project, set to rise at 218 Front Street in Vinegar Hill, Brooklyn. Issued by Valley Bank, and brokered through Landstone, this influx of capital will be used to fund all construction costs from start to finish.

Consisting of 2-separate buildings, the new development will be constructed on a through-lot, spanning between Front Street and York Street.

The buildings will contain a total of rental apartments, with up to 66 affordable units on offer. Plans also call for a small amount of ground floor retail space, and an enclosed parking garage with enough room for vehicles. Designed by , they will each stand feet tall and total square feet combined.

The square foot lot, is currently occupied by 5-separate structures and is zoned for industrial use. The main building is a one-story warehouse, built-in 1960. All of these will have to be demolished before construction can commence.

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