Steven Shi is ending the 12 months by starting a primary enterprise into Brooklyn.
The developer behind FBL Improvement and Golden Stone Administration filed plans for a 30-story, 158-unit mission in Downtown Brooklyn, Crain’s reported. The location at 245 Duffield Avenue is house to a vacant two-story constructing, previously a Planet Health fitness center.
The permits submitted to the Division of Buildings name for a 100,000-square-foot mission with 4,600 sq. ft of ground-floor retail house. Residential facilities will embrace a golf simulator, swimming pool, sauna and health heart.
It’s unclear if the models will probably be leases or condos, although beforehand filed paperwork hints on the latter. The developer didn’t instantly reply to a request for remark from the publication.
The event plans had been first reported by PincusCo.
Shi acquired the positioning in the direction of the top of October for $31 million. Final week, the developer filed demolition plans with the town. It’s unclear how lengthy the mission will take to be accomplished.
FBL’s most outstanding tasks are largely unfold out throughout Queens. Notable developments for the corporate embrace the 34-unit Northern in Flushing, the 52-unit Oasis in Astoria, the 29-unit LIC Loft in Lengthy Island Metropolis and the 51-unit Ever Backyard in Kew Gardens.
By leaping into Brooklyn — and particularly, Downtown Brooklyn — Shi is becoming a member of an space abuzz with development activity. Within the first six months of the 12 months, greater than 3,700 models had been delivered in DoBro, probably the most for the interval since a 2004 rezoning of the neighborhood. Roughly 1,200 extra models had been slated to be delivered by the top of subsequent 12 months.
A TRD analysis of recent constructing permits filed with the New York Metropolis Division of Buildings between June 2024 and 2025 discovered that Downtown Brooklyn tops the town for brand spanking new models within the pipeline.
Final month, Simon Dushinsky’s Rabsky Group and Joel Gluck’s Spencer Fairness Group took over a long-term floor lease at 356 Fulton Avenue from Gary Barnett’s Extell Improvement in a $39 million deal. The pair plan to develop an enormous residential mission with about 200 condos, 299 rental models and 20,000 sq. ft of economic house.
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