Jeffrey Gershon’s Hope Street Capital pays $9M to Episcopal Diocese of Long Island for air rights in Clinton Hill

Jeffrey Gershon’s Hope Street Capital through the entity Superior Associates, LLC paid the Episcopal Diocese of Long Island’s Church Of St. Luke And St. Matthew $8.9 million for air rights from 520 Clinton Avenue to be given to 809 Atlantic Avenue in Clinton Hill. The deal closed on November 27, 2019, and was recorded on December 10, 2019.

Hope Street purchased the church’s air rights for $8.9 million. Hope Street plans to build a mixed-use tower with 284 apartments, of which 30 percent would be affordable, at 809 Atlantic Avenue.

Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $100,000.There has been one new building permit application totaling 231,739 square feet. Those plans include a total of 266 residential or hotel units. There have been 3 demolition projects filed over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link