106 N. 1st St., where a developer is planning a seven-story mixed-use building. (NYC ZoLa)
Nov. 9, 2018 By Laura Hanrahan
The development frenzy continues in North Brooklyn, as yet another developer has put through plans for a luxury residential building in Williamsburg.
DDG Partners, a Manhattan-based developer, has plans for a seven-story, 38-unit development at 106 N. 1st Street, between Wythe Avenue and Berry Street, which currently sees a one-story warehouse.
The developer submitting filings with the Department of Buildings earlier this week, which calls for a roughly 49,000 square foot building.
While the bulk of the building is residential, about 8,700 square feet of commercial space would take up the ground floor.
The development also includes 49 parking spots, tenant storage space, a communal lounge and rooftop terraces.
DDG Partners signed a 99-year ground lease for the property last year for $12.6 million, and later purchased air rights from neighboring plots, the New York Post reported.
While DDG typically develops condos, a ground lease does not allow for this, meaning the units will either be rentals or “condops.”
Condops are found in mixed-use buildings where at least one of the units is owned by a cooperative corporation and is then sub-divided into “co-op” apartments.
DDG did not immediately respond to request for comment.
Earlier this year, DDG completed a hotel-to-condo transformation of The Standish in Brooklyn, while their ongoing development of a 32-story tower on the Upper East Side has been embattled with legal trouble after the company was accused of exploiting a section of the zoning code in an effort to skirt height restrictions.
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