55 Smith Street sold for $58M, demolition filed 49 days later
The buyer already has a 99-unit, 22-story new-building filing on the same lot. Clearing the site is the next step.
A Downtown Brooklyn development site at 55 Smith Street changed hands for $58,075,000, and the new owner moved to clear it 49 days after signing. The deed is dated July 28, and a full demolition filing reached DOB NOW on September 15.
The seller was 160 Livingston Properties, LP, which lists a Newark address on Edison Place. The buyer was 55 Smith LLC, with a Brooklyn mailbox address. The deed was recorded August 5 and covers the whole lot, Brooklyn block 164, lot 1.
Why it matters
The site was not bought blind. A new-building filing for the same tax lot, B01328056-I1, was submitted February 3 for 99 dwelling units across 22 stories, listing CW Realty LLC as owner. It is still in “Objections” status, so plan review is open. For a developer, this is a land trade priced against an entitled-looking program, and the next sign of life is site clearance.
Read the demolition filing for what it is: a small job. DOB NOW describes it as full demolition of a one-story booth, with a declared cost of $5,000. There are no existing dwelling units. This is a tidy-the-lot permit, not a teardown of a building with tenants.
The numbers
- Price: $58,075,000, 100 percent of the lot conveyed.
- Deed to demolition filing: 49 days (July 28 to September 15).
- Proposed program on the new-building filing: 99 units, 22 stories.
- Implied land cost: about $586,616 per proposed unit ($58,075,000 divided by 99). That is our arithmetic, and it moves if plan objections change the unit count.
- The demolition filing lists HEARTFELT TOWNHOUSE BUILD as owner and a general contractor as applicant. It sits in Plan Examiner Review.
The two filings name different owners (CW Realty LLC and Heartfelt Townhouse Build) from the deed buyer (55 Smith LLC). The records alone do not say how they relate, so we are not asserting a link beyond the shared lot.
What’s next
Watch DOB NOW for the demolition approval and for the new-building filing to clear objections. A construction loan, if one exists, would be recorded in ACRIS, and we found none yet, though the public mirror runs weeks behind. For wider context, see our New York market page.
On the record
What we checked ourselves, and where you can check it too.
- Public record49 days from the July 28 deed to the September 15 demolition filingView the record on a810-dobnow.nyc.gov
- Public recordThe 99-unit, 22-story new-building filing sits on the same tax lot (Brooklyn block 164, lot 1) and was filed February 3, six months before the deedView the record on a810-dobnow.nyc.gov
Sources
- NYC Department of Finance, ACRISDeed, 160 Livingston Properties, LP to 55 Smith LLC, $58,075,000
- NYC Department of Buildings, DOB NOWFull demolition filing B01448944-I1, 55 Smith Street
- NYC Department of Buildings, DOB NOWNew-building filing B01328056-I1, 99 units, 22 stories