JMH Development and Madison Estates, who purchased the Brooklyn Heights Cinema location at 70 Henry this week, are planning to build …wait for it… condos on the site. A spokesperson for the group writes that they will ” be bringing a Morris Adjmi-designed boutique condominium development to the historic neighborhood.”
The developer’s spokesperson tells BHB that it’s too early in the planning stages to say whether or not a theater or similar space will be part of the proposed new structure.
Here’s the presser:
JMH Development and Madison Estates announced the acquisition of 70 Henry Street, located in Brooklyn’s preeminent Brooklyn Heights neighborhood. With this $7.5 million purchase, the partnership will bring a luxury boutique condominium development to the highly sought-after historic district.
JMH Development and Madison Estates are the team behind the successful, and sold out, Cobble Hill project, The Townhouses of Cobble Hill. The architect of record for 70 Henry Street is Morris Adjmi, who also worked with the partnership on the Cobble Hill project.
“Following the swift sales of The Townhouses of Cobble Hill, we are eager to move forward with Madison Estates to bring another successful venture to one of Brooklyn’s premier neighborhoods,” said Jason Halpern, founder of JMH Development. “This project will work to both enhance the dynamic neighborhood with unique architecture, while filling the historic district’s inherent demand for new construction.”
70 Henry Street is located in Brooklyn Heights, which is steeped in historic charm. The vibrant neighborhood features a wide range of shopping, dining and cultural institutions including the Brooklyn Historical Society and the New York Transit Museum. Situated near both the East River and Brooklyn Bridge Park, the area is also convenient to a range of transportation options including the 2, 3, M, R, 4 and 5 subway lines.
— 6sqft (@6sqft) June 26, 2014