A once-abondoned armory in Fort Greene is turning into condos.Â
Brooklyn-based developers Hesky and Samy Brahimy filed plans in April to convert the property at 167-171 Clermont Avenue, known as the Clermont Armory. The building currently houses 110 rental units and ground-floor commercial space.Â
The Brahimys are partnering on the project with John Frezza of the Strategic Development and Construction Corporation. The three initially transformed the then-127-year-old armory into a residential complex in the late-1990s and early-2000s.Â
The developers — who bought the property for $300,000 at a city auction in 1995 — converted the armory under New York City’s New Opportunities Program, an initiative launched by the Housing Development Corporation in 1998 to encourage developers to build middle-income housing by providing affordable mortgage rates.Â
For the initial rehabilitation, the Brahimys and Frezza landed a roughly $10 million loan with a 7.5 percent interest rate from HDC, followed by another roughly $2 million loan with a 1 percent rate.Â
The building includes the original facade of the armory topped by two five-story wings. Its apartments range from studios to three-bedrooms, with 10 of those units featuring balconies. Amenities include a 24-hour doorman, elevators and landscaped courtyard.Â
At the time of the project’s development, the developers planned to rent the apartments to tenants with annual incomes between $30,000 and $80,000 for $850 to $1,750 a month. The latest Streeteasy data shows studios rented last year for as much as $2,600 a month and two-bedrooms rented in 2021 for as much as $3,800 per month.Â
Representatives with the IBEC Building Corporation, of which the Brahimys are principals, did not immediately respond to a request for comment.Â
The Clermont Armory was built in 1872 for the National Guard and was used for the military for nearly 100 years. The city took over the property in 1964 and used it as a warehouse until 1986, when it began falling into disrepair.Â
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