State Shops Brooklyn's 160,000-SF Hoyt-Schermerhorn Parcels

NEW YORK CITY-Requests for Proposals to purchase and develop the remaining Hoyt-Schermerhorn properties have been sent out and state and city officials are taking no chances on the re-use of the land. The New York City Council has rezoned the area to be sure that development of the 160,000 acres of state-owned land reflects the architectural character of the surrounding Brooklyn neighborhoods.

“We are very optimistic about the future of these two properties,” Empire State Development Corp. spokesperson Maura Gallucci tells GlobeSt.com. ESD is the economic development agency responsible for the disposal of state-owned property. “We worked closely with the borough president’s office on this project,” Gallucci says.

The three vacant Hoyt-Schermerhorn properties, located near Downtown Brooklyn on Schermerhorn Street between Smith Street and Bond Street and on Smith Street between Atlantic Avenue and State Street, were acquired by the state in 1974 from the City of New York as part of the abandoned Schermerhorn-Pacific Urban Renewal Project. All 178,000 acres have been used for parking ever since.