Matthew Sprayregen of Knickpoint Ventures plans to build a new 12-story, 206-unit, mixed-use building at 261 Walton Avenue in Mott Haven.
The building will have 19,000-square-feet of commercial space located on the ground floor and a cellar parking garage with 12 accessory parking spaces. The parcel is currently occupied by a 43,820-square-foot industrial and manufacturing building.
The plans were disclosed in a Zoning Map Amendment and Zoning Text Amendment, the CEQR fee was paid on June 2. The plans seek a Zoning Map Change from a Special Mixed-Use District (MX-13) to an R8A/C2-4 zoning district along with a mandatory inclusionary housing text amendment to facilitate the new building.
Sprayregen is co-founder of Knickpoint and former CEO of Tuck-it-Away self-storage, a company formed by his grandfather in 1980. Tuck-it-Away was led for many years by Matthew’s father Nicholas, a colorful figure who was a developer, storage mogul and local news publisher, and who died in 2016.
In January 2019, an interest in 10 properties valued at $85 million — including 261 Walton Street — that were located in Manhattan, Brooklyn, Queens and the Bronx, was transferred to a series of trusts in the name of Matthew, his mother and others.
At least one of those properties, 3300 Broadway in West Harlem, subsequently sold. Columbia University bought it for $33.6 million.
Zoning Application Portal LINK