Avery Hall Investments

120 5th Avenue

Park Slope, Brooklyn

Community Presentation
February 9th, 2016

Avery Hall Investments

Founded in 2013, led by Principals Brian Ezra, Avi
Fisher and Jesse Wark
Deep roots in Park Slope; multi-generational Brooklyn
family
AHI redevelops underutilized Brooklyn properties into
thoughtfully-designed, contextual mixed-use
properties with a focus on residential and retail space

Current Projects

465 Pacific Street / 472 Atlantic Avenue,

Boerum Hill
o 85,000sf as-of-right mixed-use development
o 30 residential units
o 16,000sf of retail on two levels
o Construction underway; completion
anticipated Winter 2016
o Designed by Morris Adjmi Architects

Current Projects

112 Atlantic Avenue, Cobble Hill

o 33,000sf mixed-use development
o 8 residential units
o 6000sf of ground floor retail proposed
o BSA variance for retail unanimously approved by
CB6
o Landmarks Preservation Commission-approved
design
o Site work underway; completion anticipated Spring

120 5th Avenue: Aerial View

120 5th Avenue: Existing

69,708sf parcel bounded by Baltic & Douglass Streets and 5th

Avenue & Gregory Place

Current use is Key Food with 100 surface parking spaces

Key Food occupies approximately 36,000sf on ground floor,

including loading area and administrative space; as well as belowgrade storage; highly inefficient use of retail space

120 5th Avenue: Site Plan

120 5th Avenue: Zoning and

HPD

Property part of 1981 Urban Renewal Plan (URP)

Originally developed under HPD restrictions:

Grocery store in accordance with URP land use controls
that allow both commercial and residential use
In 1981, URP site was zoned R6 with no height limits; 40
restriction imposed to ensure low-scale development in midblock
Property included in area-wide rezoning 1993 to R6A/R6B
with maximum height of 70
40-year height limit of 40, expires 2022
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120 5 Avenue: Project Plan

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Conform with R6A/R6B as-of-right contextual zoning

+/-196,000sf of total building area above-grade
+/-139,000sf of residential, 25% affordable housing:
20% at 60% AMI
2.5% at 80% AMI
2.5% at 100% AMI
+/-165 apartments, of which 41 units are affordable
+/-52,000sf ground-floor retail

120 5 Avenue: Project Plan

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SLCE Architects Currently in design process subject to Quality Housing standards

Project contemplates:
Two residential parcels:
North parcel 6 stories
South parcel up to 5 stories
Setbacks: at 60 along 5th Avenue and at 40 along Gregory Place &
Baltic Street
Public pedestrian plaza, lined with cafes and retail
Creation of public rather than private amenity within DEP easement area
Restoration of historic Butler Street connectivity to 5th Avenue
Below-grade accessory parking as-of-right for approximately 182 cars
Bicycle storage

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120 5 Avenue: Massing

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120 5 Avenue: Public Plaza

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Pedestrian public plaza between buildings on north and

south parcels
looking west toward Butler Street

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Project Benefits
Creation of 41 affordable housing units within a range
of income tiers
Restoration of contextual 5th Avenue street-wall
Vibrant ground floor retail replaces surface parking lot
Extension of Butler Street to 5th Avenue restored
Publicly accessible open space created on private land
with private funding
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