Image: GMAP
A new five-story, 10-unit building is replacing a Chinese takeout restaurant on 83 Humboldt Street in the eastern reaches of Williamsburg.
Located between Moore and Siegel streets, the proposed 7,586-square-foot development would have 10 units spread over five floors, according to permits filed yesterday. Rising 58 feet tall, the building would have two units per floor, storage and a shared rooftop recreation area.
Developer 83 Humboldt LLC purchased the site, currently home to Nine Dragons restaurant, in November 2013 for $725,000, according to public records. In February, the developer filed plans to convert the one-story commercial building into apartments, but that application was disapproved.
A now-defunct Loopnet listing from more than a year ago describes the existing structure as measuring about 2,500 square feet, with ceilings approximately 18 feet high: “This property offers an excellent opportunity for a user. There is heavy foot traffic from the high density housing projects (Bushwick Houses) across the street which offers for a potentially flourishing business.”
For context, 83 Humboldt is next to 85 Humboldt, a big brick 18-unit walk-up with ground-floor retail. Fully occupied, 85 Humboldt went on the market with an asking price of $13.5 million, according to the Massey Knakal listing. Measuring about 34,900 square feet, the corner property had nine three-bedroom and nine four-bedroom units, with average residential rents of about $30 per square foot. It sold for $12 million in April.
We love Williamsburg new development — by gosh, we do. Inject our newsletter into your RE bloodstream here.
