New Tower for Downtown Brooklyn

The buyers of a mid-century bank building at the gateway to the revived Fulton Avenue Mall now plan to replace it with a mixed-use development.

“The site includes 160,000 buildable SF, and retail, office, cultural and residential uses are being considered by the project team,” according to Avery Hall Investments, which bought the white-brick building at 1 Boerum Place for $76.1 million in November with its partners Allegra Holding and Aria Development Group. The seller, Brooklyn Law School, has sold several buildings Downtown in recent years.

“We’re thrilled to be part of the continued revitalization of this part of Brooklyn,” Brian Ezra, a principal at Avery Hall told Crain’s New York Business. “We’re particularly excited by the site’s proximity to prime shopping, dining, cultural venues and educational institutions.”

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