Plans filed for construction of a 57,557-square-foot commercial building in Sheepshead Bay

Citiscape Consulting, on August 15, filed a permit application for construction of a 57,557-square-foot building at 2554 East 16th Street, also known as 1523 Avenue Z, in Sheepshead Bay, Brooklyn. The ownership of the parcel was not clear. The most recent city records as of 2020 indicate Babis Krasanakis owned the parcel, but the ownership entity, 1401 Bay, LLC, was not on the Department of Buildings filing.

The plans call for the construction of a 110-foot-tall, 11-story building and were filed with the New York City Department of Buildings under job number B00793204. The use groups for each floor were not available in the filing.

The project is described in the filing as: new building application for proposed 11-story commercial building.

The architect listed is Citiscape Consulting Ltd.

The property was acquired for $4.8 million on September 22, 2011.
The 1523 Avenue Z parcel has frontage of 250 feet and is 98 feet deep with a total lot size of 22,400 square feet. The lot is irregular. The zoning is R4 which allows for up to 0.75 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $3.5 million.

The industrial lot in Sheepshead Bay has zero square feet of built space and 16,800 square feet of additional air rights for a total buildable of 16,800 square feet according to PincusCo analysis of city data.

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