TD Bank Will Be Tenant Of Alchemy's 'Sackett Union' Project In Carroll Gardens

Alchemy's Sackett Union Development as seen from Court Street 

View from Union Street

Corner of Court Street and Sackett Street

The project as seen from Sackett Street

Future garage entrance

The town homes on Sackett Street

A peek into the model unit on the Carroll Street side

Here is a community update from Ken Horn of Alchemy Properties, the development, marketing and consulting firm  which is currently constructing one of the largest projects in Carroll Gardens in quite a few decades.
The Sackett Union project, formerly known as 340 Court Street, consist of a 7 story, 32 unit condominium building consisting of two, three and four family units along Court Street and of 11 one and two family  townhouses on Union and Sackett Streets. There is also a penthouse and an outdoor lounge on the main building "breathtaking views of Manhattan and Brooklyn".

Though prices start at $1,105,00 for a two-bedroom unit, 15 of the units have already been sold.  So has one of the townhouses.  A model unit can now be visited by appointment, but there will not be an open house until February, when the main entrance on Union Street has been completed.
Work on the façade of this Rogers Marvel-designed building starting in about two weeks.  The color of the treatment has been described as "brownstone red".
The entire development should be completed by July or August 2013.
An official web site is going up in the next week.

Alchemy Properties took over the long-stalled project at 340 Court Street after the previous developer, The Clarett Group, pulled out.

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After Years Of Delays, 340 Court Street Beginning To Rise

After years of delays, construction of the new 7 story, 32 unit condominium building at 340 Court Street between Union and Sackett Street is progressing quickly now. Just in the last few days, the steel frame has begun to rise quickly.

The property has recently been acquired by Alchemy Properties, a development , marketing and consulting firm which took over the project when The Clarret Group pulled out.

Renderings of the new building have not yet been published or presented to the community, but Kenneth Horn, president and founder of Alchemy, told a small group of area residents at a meeting in June that the firm is moving ahead with the original Rogers Marvel design, which was widely criticized as unappealing and its façade too dark when it was presented to the community back in 2008.

original Rogers Marvel design presented to the community in 2008

Though Mr. Horn told the group that the envelope of the building will not change, he did agree that the façade needed to be improved. "The building will not be black" he stated. "It will be significantly lighter."

We shall see. Interestingly, I found this rendering of the building on Rogers Marvel's own web site. Could this be the revised, lighter façade of the building?

rendering courtesy of Rogers Marvel

One thing is for sure: the 7 story building will significantly alter the street scape of Court Street.

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With Clarett's Future In Doubt, What Will Happen To 340 Court Street?

The Clarett Site at 340 Court Street

Clarett's design for proposed 340 Court Street development

proposed town houses or "maisonettes" on Sackett Street

I suppose this will not come as a surprise to anyone here in Carroll Gardens, but according to the Real Deal, the Clarett Group just shuttered its offices in New York City. From an article that was published on Thursday:

"The Clarett Group, a New York residential and office building developer, has shut down its New York office, leaving one local project in limbo and the company's future in doubt. And it comes as founder Veronica Hackett has decamped for a developer of commercial space, Brookfield Office Properties.

In January, following the gradual departure of staff over the past few months, the handful of remaining employees at Clarett's Madison Square Park office were let go or quit, according to former employees. In 2007, that office employed several dozen employees, the sources said."

But what does this mean for Clarett's " Collection On Court" site at 340 Court Street? Since late 2008, the project, which included a 70 foot building on Court Street, 4 townhouses on both Union and Sackett Streets as well as 3 'maisonettes', has been put on hold. Apparently, after the downturn in the economy, Clarett found it difficult to get financing.

Though Carroll Gardeners never warmed to the Rogers Marvel designed project, they hadn't signed up for a huge hole in the ground in the middle of the neighborhood either.

And now this announcement.

Jonathan Marvel, of Rogers Marvel Architects, the architect for Collection at Court Street, would not comment to the Real Deal, but he indicated to the Real Deal "that the project was in "transition" and details would be coming soon."

According to a source in the business, an out-of-town-opportunity fund is buying the site.

Stay tuned.

Related reading:

Clarett Clears A Hurdle! Gets BSA Application Approval From CB6 Land Use Committee

Some Work Resumes At Clarett Site On Court Street, Despite Recent Stop Work Order

Clarett Looking For Retail Tenant For 340 Court Street

Clarett Came, Dug...And Blighted?

Clarett Restores Sidewalk In Front Of "Collection On Court'

Clarett To Pause Construction At 340 Court For Next Few Months?

Clarett Keeping Mum About Revised Plans For 'The Collection At Court Street"

Oooops! Clarett Does It Again At 340 Court Street!

Line Of Communication Not Really "Open" With Clarett Group Regarding 340 Court Street

More Deconstruction At 340 Court Street

Carroll Gardens Not Exactly Loving Clarett's 340 Court Street Design

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