Six-Story Condo Building May Replace Shuttered Walgreens on Atlantic in Boerum Hill

The now-shuttered Walgreens on Atlantic Avenue in Boerum Hill is likely to become a six-story, 29-unit condo building with stores on the ground floor. Architect Beyer Blinder Belle filed a new-bulding permit application Wednesday, NY YIMBY reported, that confirmed plans described by unnamed sources to The Real Deal in April.

The new-building application, filed under the address 505 Pacific Street, calls for a 71,742-square-foot building with 55,449 square feet of residential space and 16,293 of commercial. It will be 80 feet high.

There will be 12,725 square feet of underground parking for an unspecified number of cars as well as a fitness room for residents in a sub cellar. The cellar and ground floor will be given over to retail, as well as a lobby.

Apartments — condos, according to The Real Deal — will occupy floors two through six, including duplex penthouses on the top two floors.

Developer Jeffrey Gershon’s Hope Street Capital paid $13,000,000 for the lot in December, public records show. AEW Capital Management is also a partner in the project, according to YIMBY and The Real Deal.

Hope Street Capital is a real estate investment firm based in Manhattan. AEW is a large, global firm that offers real estate investment management services.

Beyer Blinder Belle, based in D.C. and New York, designs for many verticals and also handles interiors and urban planning. It is well known for its work in historic preservation and adaptive reuse.

Walgreens, whose address was 520 Atlantic Avenue, closed in January, as we reported at the time.

A construction fence has surrounded the site since the beginning of the summer, although no demolition permits have yet been approved. The photo above showing construction equipment at the site was taken this month. Below, the store in 2012.

The development is part of a recent trend of taller, more dense mixed-use buildings replacing gas stations, laundromats and other low-slung buildings on Atlantic Avenue.

Permits Filed: 505 Pacific Street, Boerum Hill Condos [NY YIMBY]
Walgreens Coverage [Brownstoner]
Photos by Christopher Bride for PropertyShark