"As the third largest business district in New York City, Downtown Brooklyn is home to many businesses, schools, cultural institutions and government offices," says EDC President Andrew M. Alper. "A vibrant new use of 110 Livingston St. will contribute significantly to the resurgence of Downtown Brooklyn and its surrounding neighborhoods."
Proceeds realized from the sale are earmarked for the creation of affordable housing in Brooklyn and other targeted areas of the city.
Located on the corner of Boerum Place and Livingston Street, the 12-story building was completed in 1925 from a design by the architectural firm McKim, Mead and White. The structure has undergone several capital improvements over the last two years including a new roof and a façade restoration.
While it is not designated a landmark, the EDC is encouraging bidders to submit plans that would keep the building's façade intact and "incorporate adaptive reuses" to the lobby and former Hall of the Board. The RFP also stresses that proposals should include "green" elements and encourages the use of such environment-friendly practices as integrating energy and water efficiency measures.
Options for redevelopment of the property are wide open, as its zoning allows for office, hotel, entertainment, retail and residential uses, including dormitories.
Occupied by the Board of Ed since 1939, most of the 900 Department of Education employees who occupied 110 Livingston have been transferred to the newly renovated Tweed Courthouse. The remaining employees will be relocated by summer 2003 and the city is hoping to complete a sale by spring 2004.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
