Posted Aug 22, 2025, 6:52 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 56,622
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NEW YORK | 48 Hoyt Street | 235 FT | 24 FLOORS
https://www.pincusco.com/watermark-files-plans-for-99-unit-building-in-boerum-hill/
Watermark files plans for 99-unit building in Boerum Hill
December 8, 2024
https://www.crainsnewyork.com/real-estat...emolish-four-downtown-brooklyn-buildings
Quartet of Downtown Brooklyn buildings slated for demolition
Julianne Cuba
August 22, 2025
Quote:
A Williamsburg-based developer filed permits this week to demolish four Downtown Brooklyn buildings as the firm prepares to construct a new 23-story mixed-use project in their place, records show.
Watermark Capital, led by founder Wolfe Landau, submitted plans with the Department of Buildings Wednesday to take a wrecking ball to the four 20th-century properties, located at 42, 44, 46 and 48 Hoyt St., records show.
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Landau does not own the property outright but entered into a 99-year ground-lease agreement in September 2024 with Brooklyn-based landlord Jacob Marciano, giving him the rights to build on the sites, records show.
The agreement was valued at $10.1 million and also included two adjacent properties: 50 Hoyt St., which is occupied by a 4-story mixed-use building, and 208 Livingston St., which is occupied by a 5-story mixed-use building. These are not slated for demolition at this time, records show.
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Landau filed plans in May for a new 23-story tower with 99 dwelling units and commercial space on the ground floor at 48 Hoyt St., records show. Those permits have yet to be approved. Residential buildings with less than 100 units — specifically 99 — have become popular among developers in recent months after the state's passage of the affordable housing tax break 485-x, which includes a $40-per-hour minimum wage requirement on all projects with 100 or more units.
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