Abraham Lokshin plans 31-unit building in Crown Heights

Abraham Lokshin submitted a new building construction project for a 31-unit, 48,342 square-foot residential (R-2) building at 341 Troy Avenue in Crown Heights, Brooklyn. The plan was filed with the New York City Department of Buildings on March 31, 2023 under job number B00830321. It calls for the construction of a five-story building. The architect is Rise Architecture.

The property

The parcel has frontage of 116 feet and is 138 feet deep with a total lot size of 16,114 square feet. The zoning is R4 which allows for up to 0.75 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $2.2 million.

Violations and lawsuits

According to city public data, the property has not received any significant violations in the last year.

There were no lawsuits or bankruptcies filed against the property for the past 24 months.

The neighborhood

In Crown Heights, The bulk, or 39 percent of the 46.5 million square feet of commercial built space are walkup buildings, with elevator buildings next occupying 36 percent of the space. In sales, Crown Heights has near average sales volume among other neighborhoods with $599.3 million in sales volume in the last two years and is the 9th highest in Brooklyn. For development, Crown Heights has near average amount of major developments among other neighborhoods and is the 6th highest in Brooklyn. It had 3 million square feet of commercial and multi-family construction under development in the last two years, which represents 6 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of five of the nine commercial properties representing 118,200 square feet of the 118,200 square feet. The largest owner is David Fischer, followed by Gilman Management and then Kenneth Rosenblum. On the tax block, there were two new building construction projects totaling 4,879,464 square feet. The largest is a 26-unit residential (R-2) building submitted by Alex Lokshin and filed by Alex Lokshin with plans filed December 9, 2014 and it has not been permitted yet. The second largest is a 31-unit, 48,342 square-foot residential (R-2) building submitted by Abraham Lokshin and filed by Abraham Lokshin with plans filed March 31, 2023 and it has not been permitted yet.

The surrounding

Within a 400-foot radius of 1527 Carroll Street, PincusCo identified three commercial real estate items of interests occurred over the past 24 months. Of those three items, three were loans above $5 million totaling $30.1 million. The most recent of the three was Mendel Rabkin who borrowed $12.5 million from Signature Bank secured by one condo unit in the 60,413-square-foot, 79-unit mixed-use building (RM) on 1510 Carroll Street on September 27, 2022.

Direct link to the property’s ACRIS page and link to DOB NOW portal.