Affordable Housing developer Breaking Ground is closing to finalizing a sale on 90 Sands Street from RFR Realty
A former Jehovah Witnesses building that was once slated to be a hotel developed by Ian Schrager and Aby Rosen's RFR Realty may now become an affordable and supportive housing development. The Brooklyn Daily Eagle has learned through an email bulletin from Brooklyn Community Board 2 that affordable housing developer Breaking Ground is set to make a presentation about their conversion of 90 Sands Street, on Wednesday.
Curbed has since obtained a copy of this email, which states that Brenda Rosen, the CEO of Breaking Ground will inform Community Board 2's Land Use Committee of its "plan to create low-to-moderate income and supportive housing at 90 Sands Street." A spokesperson for Breaking Ground was not reachable for comment.
Breaking Ground is still in the process of acquiring this former residential hotel from RFR Realty. The latter took sole ownership of the site from former partners Kushner Companies and LIVWRK, in September 2017, for $135 million. It's not yet clear how much Breaking Ground paid for the building, but the sale is expected to close this September, according to the Brooklyn Daily Eagle.
The 30-story 90 Sands Street has a total of 507 apartments—127 one-bedrooms, and 380 studios. Breaking Ground plans to have one-bedroom homes for low-income families, and studios for low-income individuals and formerly homeless New Yorkers. The affordable housing developer is hoping to commence interior renovations on the building in February 2019, and have the first set of residents move in sometime a year after that.
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