Local Developer Plans Pair of 99-Unit Resi Buildings on Brooklyn’s Atlantic Avenue

Yet another 99-unit residential building could be going up in New York City as the city’s 485-x incentive forces developers to opt for the sub-100 number rather than pay higher construction wages.

Local developer Moses Karpen of Waterfront Property Management has filed plans with the New York City Department of Buildings (DOB) for two new residential buildings at 1029 Atlantic Avenue and the neighboring 1035 Atlantic Avenue in Brooklyn’s Bedford-Stuyvesant neighborhood. The property is currently home to a Meineke Car Care Center and restaurant supply store Acme USA.

The plans call for a pair of almost identical side-by-side residential buildings, each with 99 units, for a total of 198 units. Both buildings would rise 18 stories and feature both residential and commercial space. 

Karpen submitted the plans to the DOB, while Amr Ouda of Jay Architect & Engineering was listed as the registered architect on both plans.

Karpen did not immediately respond to a request for comment, while Ouda could not be reached for comment. 

Both apartment buildings will have a resident lobby, a recreation space, a rooftop space, and apartments on the second through 18th floors. The plans also note some ground-floor commercial space. 

While it’s unclear if the apartment buildings will be designated as affordable housing, the 99 units planned for each property provides a clue that it could be what’s in store. 

The 485-x tax incentive program meant to help increase affordable housing supply across New York City comes with a higher construction wage requirement for properties with at least 100 units. As a way to get around the wage requirement but still take advantage of the tax break, developers have been building residential properties with 99 or fewer units. 

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.