Magen David Yeshivah files plans for 13K sf school building in Gravesend

Magen David Yeshivah submitted a new building construction project for a 12,925 square-foot school building at 321 Avenue T in Gravesend, Brooklyn. The plan was filed with the New York City Department of Buildings on December 14, 2022 under job number B08043680. It calls for the construction of a four-story building. The project is described in the filing as: proposed four-story new building school. The architect is IMC Architecture.

Prior sales and revenue

The school purchased the building for $1.7 million on April 18, 2022.

The 3,960-square-foot property generated revenue of $67,241 or $17 per square foot, according to the most recent income and expense figures.

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 Gravesend, The bulk, or 39 percent of the 18.7 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 17 percent of the space. In sales, Gravesend has near average sales volume among other neighborhoods with $333.5 million in sales volume in the last two years and is the 21st highest in Brooklyn. For development, Gravesend has near average amount of major developments among other neighborhoods and is the 13th highest in Brooklyn. It had 1.3 million square feet of commercial and multi-family construction under development in the last two years, which represents 7 percent of the neighborhood’s built space.

The block

On the tax block, there were two new building construction projects totaling 13,544 square feet. The largest is a 12,925 square-foot school building submitted by Magen David and filed by Magen David with plans filed December 14, 2022 and it has not been permitted yet.

The surrounding

This is the first commercial real estate event of interest identified within the 400-foot radius of 321 Avenue T in the past 24 months.

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