"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."
Continuum Company secured a rezoning for 962-972 Franklin Avenue that permits a 10-story development with a sloping plane restricted to 10 degrees and up to 355 units. The rezoning requires angling the building to reduce shade on the Brooklyn Botanic Garden's vulnerable plants. Continuum sold the development site to developer Isaac Schwartz for $54.3 million. JLL Capital Markets released a rendering accompanying the sale that depicts a 14-story building rather than the 10 stories allowed by the rezoning. City records show no recent new-building permits; a previously applied six-story permit was never issued. Community opposition previously stopped two proposed 34-story towers due to garden shade concerns. Brownstoner contacted elected officials and planning for confirmation about Continuum's height and playground funding commitments but received no timely response.
Read at Brooklyn Paper
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