Talmudical Seminary of Bobov files plans for 48K sf building in Borough Park

Benzion Geller on behalf of the rabbinical college Talmudical Seminary of Bobov submitted a new building construction project for a 47,992 square-foot educational building at 1221 52nd Street in Borough Park, Brooklyn. The plan was filed with the New York City Department of Buildings on April 3, 2023 under job number B00845709. It calls for the construction of a nine-story building. The project is described in the filing as: proposed new nine-story building, community facility building. The architect is Richard Bienenfeld Architect, P.C.

The property

The existing property in Borough Park has 17,636 square feet of built space and 6,456 square feet of additional air rights for a total buildable of 24,137 square feet according to a PincusCo analysis of city data. The parcel has frontage of 127 feet and is 146 feet deep with a total lot size of 9,933 square feet. The lot is irregular. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $4.7 million.

Prior sales and revenue

This property was sold for $7.6 million on November 14, 2017.

The neighborhood

In Borough Park, The bulk, or 25 percent of the 23.2 million square feet of commercial built space are specialty buildings, with mixed-use buildings next occupying 21 percent of the space. In sales, Borough Park has near average sales volume among other neighborhoods with $382.2 million in sales volume in the last two years and is the 19th highest in Brooklyn. For development, Borough Park has near average amount of major developments among other neighborhoods and is the 20th highest in Brooklyn. It had 824,904 square feet of commercial and multi-family construction under development in the last two years, which represents 4 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of two of the 16 commercial properties representing 41,650 square feet of the 128,383 square feet. The two identified owners are Metropolitan Commercial Bank and United States Postal Service. On the tax block, there was one new building construction project filed totaling 47,992 square feet. It is a 47,992 square-foot 54 building submitted by Talmudical Seminary of Bobov and filed by Benzion Geller with plans filed April 3, 2023 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 1229 52 Street in the past 24 months.

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