The warehouse at 314 Troutman Street in Bushwick has been sold for $14 million, and new owners plan to convert the property into an 82-unit condo building. Demolition and construction are expected to begin later this year.

The 30,000-square-foot warehouse at 314 Troutman Street, a block from the Jefferson L stop, changed hands this week in a $14 million deal confirmed by city records. Vertex Development, the new owner, told NYC Pulse they plan to demolish the current structure and break ground on an 82-unit condo building by the end of the year.

Bushwick, long known for its industrial blocks and street art, has been a magnet for residential development since the early 2010s. Vertex Development principal David Goldstein said, “Bushwick is evolving fast, and we want to offer homes that reflect the neighborhood’s creative energy. We expect to file permits with DOB by August and market condos by next spring.”

The current warehouse, which previously housed a textile distributor, will be replaced by a six-story building designed by Montroy Andersen DeMarco. The developer is promising a mix of studios and two-bedrooms, ground-level retail, and a rooftop amenity deck. Goldstein said prices will start just under $600,000 for studios, aiming at first-time buyers and local residents ready to own.

Neighbors on Troutman Street have already noticed signs of change. “We saw folks surveying the block last week,” said Lila Cruz, who lives across the street. “Some of us are hoping the new condos bring more foot traffic to the small businesses popping up nearby.”

Frequently Asked Questions

Where is the warehouse located and what will replace it?

The property is at 314 Troutman Street in Bushwick, Brooklyn, near the Jefferson L subway stop. Developers will demolish the current warehouse and build an 82-unit condo building with ground-floor retail and rooftop amenities.

Who bought the property and for how much?

Vertex Development, a Brooklyn-based real estate firm, purchased the warehouse for $14 million in a deal that closed on June 12, 2024. The sale was recorded by the NYC Department of Finance.

When will construction start and when will the condos be available?

Vertex Development expects to file construction permits by August 2024, start demolition this fall, and begin marketing condos in spring 2025. The first residents could move in by the end of 2025, pending city approvals.

Frequently Asked Questions

Where is the Troutman Street warehouse located?

The warehouse is located at 314 Troutman Street in Bushwick, Brooklyn, near the Jefferson L subway stop.

Who bought the warehouse at 314 Troutman Street and for how much?

Vertex Development, a Brooklyn-based real estate firm, purchased the warehouse for $14 million in a deal that closed on June 12, 2024.

What will replace the warehouse at 314 Troutman Street?

The warehouse will be demolished and replaced by an 82-unit condo building with ground-floor retail and rooftop amenities.

When will construction start and when will the condos be available?

Vertex Development expects to file permits by August 2024, start demolition by the end of 2024, and begin marketing condos in spring 2025.

What types of condos and amenities are planned for the new building?

The new building will include a mix of studios and two-bedroom condos, ground-level retail, and a rooftop amenity deck.

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