Loketch, Meral Property submit $67M condo plan for former factory in Bed-Stuy

Loketch Group and Meral Property Group submitted a $66.96 million condominium plan for a former factory building in Bedford-Stuyvesant. The plans were filed with the New York State Attorney General on March 5. David Rivlin was listed as the principal of sponsor.

The plans are for a factory building that is being converted to 46 residential condo units at 10 Quincy Street in Bed-Stuy, Brooklyn. The structure is part of a two-building development at 10 Quincy Street and 26 Quincy Street that will bring 89 units to the neighborhood. The plans have the file number CD210060.

In November of 2018, the developer filed plans for the $6.1 million conversion of the factory building to a 46-unit residential building. The plans for the 55,487-square-foot conversion received initial permits in February of last year, but have yet to receive a TCO.

Plans for a ground-up development with 43 residential at 26 Quincy Street were filed on November 28, 2018. According to reports, the units will serve as multifamily apartment buildings.

Jeffrey Kamen is the architect.

Per a report, the apartments will be a mix of one-, two- and three-bedrooms.

S3 Capital Partners lent the developers $50 million for the developments in January of last year.