HELP USA files plans for 51-unit project in East New York

David Cleghorn of HELP USA submitted a new building construction project for a 51-unit, 58,422-square-foot residential (R-2) building at 314 Hinsdale Street in East New York, Brooklyn. The plan was filed with the New York City Department of Buildings on August 24, 2023 under job number B00873882. It calls for the construction of a six-story building. The project is described in the filing as: construct new six-story residential building as per plans filed. The architect is Curtis + Ginsberg Architects. This project also involves the city’s Department of Housing Preservation and Development.

On the same tax block, HELP USA owns 273 Snediker Avenue and 242 Hinsdale Street.

The DOB filings do not identify the exact location of the project, but it will likely occupy some portion of the vacant space along Hinsdale Street in this diagram.

The property

The lot is irregular. The zoning is R6A which allows for up to 3 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $955,000.

Development

NYC Department of Housing Preservation and Development submitted a new building construction project for a 184-unit, 384,670 square-foot residential (R-2) building at 273 Snediker Avenue. The plan was filed on August 17, 2020 and was permitted on December 17, 2021. It calls for the construction of a 92-foot tall, nine-story building and was filed with the New York City Department of Buildings under job number 321592825.

Over the past five years, there has been no NYC Department of Buildings new building, demolition, or alteration permit application valued at more than $20,000 filed for this parcel.

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 block

On this tax block, PincusCo has identified the owners of three of the four commercial properties representing 259,661 square feet of the 259,661 square feet. The two identified owners are Help USA and Northeast Brooklyn Housing Development Corporation. On the tax block, there were two new building construction projects totaling 425,073 square feet. The largest is a 184-unit, 384,670 square-foot residential (R-2) building submitted by NYC Department of Housing Preservation and Development and filed by Rona Reodica with plans filed August 17, 2020 and permitted December 17, 2021. The second largest is a 71-unit, 40,403 square-foot residential (R-2) building submitted by NYC Department of Housing Preservation and Development and filed by Rona Reodica with plans filed April 28, 2020 and permitted December 17, 2021.

The surrounding

Within a 400-foot radius of 314 Hinsdale Street, PincusCo identified four commercial real estate items of interests occurred over the past 24 months. Of those four items, two were in new building development. There were two new building permits. The most recent of these two items was a permit on December 17, 2021 for a 189,907-square-foot residential (R-2) building with 184 residential units at 273 Snediker Avenue. Of those four items, two were loans above $5 million totaling $92.2 million. The most recent of the two was HELP USA in which borrowed $73.4 million from NYC Housing Development Corporation secured by the 123,910-square-foot industrial (I7) on 273 Snediker Avenue on February 4, 2022.

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