Property Resources Corp. permitted for $22M project to convert college building to 205-unit resi building in Bed-Stuy

Property Resources Corporation, on May 12, was given a permit for a $22 million project to convert a former St. John’s College building to a 205-unit, 170,094-square-foot residential building at 75 Lewis Avenue in Bedford-Stuyvesant. David Gartenlaub filed the plans.

The plans, pre-filed on October 9, 2019, call for the increase in the size and change in use of the building from a 60-foot tall, five-story, 158,341-square-foot building to a 60-foot tall, eight-story, 170,094-square-foot building with 205 residential units.

The project is described in the filings as: herewith filing Alt-1 change of use from university to residential and increase zoning floor area (ZFA) as per plans. The initial cost as reported in the DOB filing for the work described in this permit application is $22,000,000.

According to the plans, the ground floor of the building will be converted to 25 dwelling units, the second floor will be converted to 16 dwelling units, the third floor will be converted to 37 dwelling units, the fourth floor will be converted to 38 dwelling units, and the fifth floor will be converted to 34 dwelling units. The newly constructed sixth floor will have 17 dwelling units, while the newly constructed seventh floor will have five dwelling units. The Schedule A makes no mention of an eighth floor.

Woods Bagot is listed as the architect.

The developer signed a construction loan agreement in February with lender Pacific Western Bank valued at $43.2 million for the project.

Direct link to Acris document. LINK

Direct link to DOB document. LINK