"In a surprise move, Continuum Company has sold its property near the Brooklyn Botanic Garden less than a year after it secured a controversial site rezoning it had spent years fighting for. The rezoning for 962-972 Franklin Avenue (marketed as 970 Franklin Avenue) was approved in November last year, allowing a 10-story development on the long-vacant site, provided it was angled to reduce the amount of shade cast on the garden's vulnerable plants."
"Continuum Company has now sold the development site to developer Isaac Schwartz for $54.3 million, a press release sent out today by real estate management company JLL Capital Markets said. Included with the release was a rendering of what JLL said could be built at the site, which shows a 14-story building rather than the 10 stories specified in the rezoning."
"Brownstoner reached out to Hudson and DCP about whether commitments made by Continuum around height - and funding upgrades to Jackie Robinson Playground - would remain in place with the new owner, but did not hear back by the time of publication. No recent new-building permits have been applied for, city records show, but prior to the rezoning, Continuum Company had applied to build a new six-story building on the site. That permit was never issued."
Continuum Company sold its rezoned property at 962-972 Franklin Avenue near the Brooklyn Botanic Garden to developer Isaac Schwartz for $54.3 million. The approved rezoning allows a 10-story, 355-unit development with a sloping plane restricted to 10 degrees to limit shade on the garden's vulnerable plants. JLL Capital Markets released a rendering showing a 14-story building, prompting questions about future compliance with height and shading conditions. Brownstoner contacted Hudson and DCP about whether Continuum's commitments on height and funding for Jackie Robinson Playground will remain, but received no response. City records show no new permits have been filed; a prior six-story permit was never issued.
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