Continuing the discussion from NEW YORK | Flatbush Ave Corridor (DoBro + BAM + AY):
http://therealdeal.com/blog/2014/04/16/morris-baileys-jemb-buys-brooklyn-lot-with-185k-sf/
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Permits Filed: 65-Story Tower Coming to 420 Albee Square, Downtown Brooklyn
BY: NIKOLAI FEDAK ON SEPTEMBER 25TH 2014 AT 3:15 PM
420 Albee Square, currently empty parking lots, via Google Maps
Downtown Brooklyn continues to gain serious height, and the neighborhoodâs largest filing of the Great Permit Frenzy of 2014 has come in for 420 Albee Square, which JEMB Realty is developing. The new building permit lists SLCE as the architect of record, and the tower will stand 65 stories and 620 feet tall, becoming one of the tallest buildings in the borough.
As-is, 420 Albee Square will rise higher than either 388 Bridge â Brooklynâs current tallest â or the Avalon Willoughby Square, which will soon eclipse it. Both of those towers crest just under the 600-foot mark.
Permits for JDSâ 340 Flatbush Ave. Extension would make that building the tallest by far, standing nearly 800 feet tall, and the third phase of City Point could also rise to a similar height. While 420 Albee Square is major compared to the current skyline, it will actually be fairly contextual to the Downtown Brooklyn of the 2020s, which will become increasingly prominent from perspectives across the region.
Per The Real Deal, JEMB picked up the site for $38.5 million in April, though additional air rights must be part of the assemblage, as the tower will measure 751,548 square feet. That will be split between 271,203 square feet of commercial development on the lower levels, and 480,435 square feet of residential space, divided amongst 620 apartments.
Downtown Brooklynâs residential development boom continues to accelerate, and buildings like 420 Albee Square are necessary en-masse to solve the cityâs affordability crisis. The only remedy is increased supply in areas with adequate transit capacity, and while many neighborhoods face restrictive zoning that eliminates otherwise prime opportunities, Downtown Brooklyn serves as a model for how transformation can occur. New units â likely rentals â will still be relatively expensive, but the sudden surge in inventory is likely to mitigate future increases, as thousands of apartments will soon be rising simultaneously.
Whether construction is around the corner or not remains to be seen, as JEMB could not be reached for comment today.
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The city is on fire. This truly is a permit frenzy. I use to say it was a tower a day, but now, its more like 3 or 4. 
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Itâs unbelievable how many permits have been filed in the past 72 hours; thereâs between 15 and 25 daily filings with the DoB for new building construction (I only report the new building applications that havenât been already covered or disclosed in DOB Digest). Iâm going through the blog and updating the forums to try and keep up with the pace lol.
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I actually refreshed the YIMBY page to make sure that I wasnât tripping. I was like, this canât be right but it sure as hell is, haha. Excellent work, definitely shows in the DOB digest. So many midrises and highrises. 
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Was wondering how long that lot would last. Hopefully it wonât be cheap looking, though Iâm sure it will be.
420 Albee Square Gets Height Chop, Will Now Stand 35 Stories Tall
By Nikolai Fedak on March 30th, 2015 at 10:20 PM
Back in September, YIMBY reported on the first filings for a new residential tower coming to 420 Albee Square in Downtown Brooklyn. The application listed the height as 65 floors and 679 feet, which would have made it the tallest new building in Brooklyn (besides JDS Developmentâs 340 Flatbush Avenue Extension).
But now, the SLCE-designed building seems to have been shortened dramatically. The towerâs floor count has been reduced from 65 stories down to 35, and its height has seen a drop from 679 feet to 389 feet.
The drop in the buildingâs planned height also comes with a major reduction in its planned square footage, which has shrunk from 751,548 square feet to 232,375 square feet. The bulk of the space will still be devoted to residential, with 248 units spanning 195,885 square feet, with the remaining 36,520 square feet devoted to commercial space on the first three floors.
Above, mechanical space will occupy the fourth floor, and then the residences will be evenly divided, with eight per level from the 5th through 35th stories.
While height adjustments are relatively common, the large shift in the buildingâs overall scope is harder to explain. The new scope better matches the siteâs previously reported available air rights, and the old filing could simply have been to avoid the new building code. Another possible explanation could be that the site will be divided between two buildings, and the rest of the air rights may still be used in a larger tower.
In any case, the latest filings would seem to indicate that 420 Albee Square will be substantially smaller than initially thought.
http://payload64.cargocollective.com/1/4/154019/3591377/Real-Estate-Arts-Lobby-Renderings_670.jpg
Credit: http://www.realestatearts.com/Renderings
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Is that 420 Albee? Iâm confused on the location with regards to this street?
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Hi Tectonic. Are you sure this isnât the very nearby 436 Albee Square? I thought 420 AS had yet to start rising.
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Oops sorry thats 436 Albee.
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according to an article posted on curbed today, this tower is âon the riseâ If anyone is in the area, can someone corroborate this?
quick edit: this thread is not appearing on the forum timeline for me. Can everyone else see it?
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Looks a tiny bit like 425 Park
YIMBY has found another rendering. I hope they havenât scrapped KPFâs design. Iâm hoping the one YIMBY found is simply for EB-5 advertising purposes.
edit: the article was updated. Sadly, it seems KPF is no longer on board.
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