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Daten Group Closes on 540 Waverly Avenue
The Daten Group has
closed on 540-554 Waverly Avenue in the Clinton Hill neighborhood of
Brooklyn this week; utilizing CAD Waverly LLC and signed by founder
David Ennis; according to city records.
The commercial real estate lot was sold by Verizon New York, Inc. for a sticker price of $17.5 million.
Daten has consolidate the zoned lots in the block that run adjacent to Atlantic Avenue and Clinton Avenue, an act that is subject to approval by the Board of Standards and Appeals.
A new nine-story mixed use building will be built on what was an under utilized parking lot. The building will yield 91,900 s/f for residential space with ample low-income housing as a designated compensated development, and 2,987 s/f of commercial space. This will yield a total of 135 residential units with 40 of those being reserved for low-income housing. Additionally, the plans include 56 enclosed parking spaces. SL Green Realty provided financing of $21 million for the project.
Daten expects to start demolition of a small existing building on lot in the next month with construction to follow closely after that.