Arbie Development is bringing a new development to Park Slope—an eight story condominium building on the corner of Butler Street and Fourth Avenue.
Once completed, 344 Butler St. will feature duplex penthouse units, attractive wrap-around balconies and more. It will hold 13 condominium units within the 8 stories–11 residential, and two ground floor rental units. Eight apartments will be two bedrooms, measuring 4 x 760 sq ft, one will be a three bedroom, two bath with a 400 sq ft private terrace, and two duplex penthouse units, each with a private rooftop terrace.
The corner of Fourth Avenue has a long and storied history in the community. During the 1970’s, 400 housing units were torn down with the intention of building a new school for kids in the community. When the economy took a tumble during the latter half of the 70s, those plans stopped and the project itself was abandoned. In the 1980s, things seemed to turn around after an urban renewal plan created new housing, which encouraged the renovation of housing in the vicinity.
The developers bought the property in May for $4.35 million dollars and in June filed for a permit to fully demolish the existing three-story house that currently sits on the corner of Fourth Avenue, adding to the area’s growing neighborhood.
But this will not be the only luxury building coming to the park slope area–there are currently 14 new development projects expected to all be complete by 2018.
Arbie Development has only been in business less than a year and until now has been working dutifully on renovating townhouses in areas like Crown Heights and Bed-Stuy. Princess Simeon, the director of operations at Arbie Development, said that the new Park Slope project is expected to be finished at some point during 2018.