Hold The Presses – 535 Dean Street

The Newswalk building at 535 Dean Street in Prospect Heights stirs emotions in just about everyone.  For some it’s a neighborhood albatross, an industrial remnant of the past.  Yet for others, that same past is a historical tie that binds.

Surrounded by a decorative wrought iron fence and manicured gardens, 535 Dean Street, aka,  Newswalk, in Prospect Heights commands the block with its sheer bulk, industrial aesthetic and the Mondrian style paneling that marks the building’s front entry.

Regardless of where your heart lies, we feel that this former newspaper printing plant deserves a little press (pun intended). And so today, in its present reincarnation, Newswalk endures as the  latest subject for our “Buildings We Love” series.

Newswalk is located between 6th Avenue and Carlton Avenue at the nexus of three Brooklyn neighborhoods: Prospect Heights, Fort Greene and Park Slope. The building is less than a block from the Barclays Center and within easy walking distance to Prospect Park and the Atlantic Terminal transportation hub.  The structure rises a modest 10 stories and contains 168 apartments.

For many decades The New York Daily News printing presses ran throughout the night to ensure that millions of New Yorkers got their news each morning.  After sitting dormant for years, the former printing plant was transformed into luxury loft-style apartments and offices in 2003 by Boymelgreen Developers.  

The Newswalk entry garden was designed by the landscape architecture firm Terrain. It includes multi-colored pavers, contoured timber benches and modern landscaping with native plants.  The garden’s design adds to the arrival experience and softens the building’s industrial aesthetic. 

While the building’s exterior may not garner much adulation, it’s the old bones of the structure that serve as the property’s allure.  Large loft spaces, many of which are north of 2,000 square feet, soaring beamed ceilings and oversized windows are pretty much standard fare.

This full service building has a myriad of building amenities but the highlight is the multi-tiered 16,000 square foot roof deck.  The landscaped deck offers a children’s playground, grilling stations, wet bar and multiple areas to lounge and relax.  From the roof, the rear of the Barclays Center is front and center.  If you wish to leave town, there is even a Zip Car service on the premises.

Apartments at Newswalk represent a good value when compared to newer condominiums that are now flourishing in Brooklyn.  Over the past twelve months, there have been 14 transactions with an average per square foot value of $1049.  Depending on the extent of a particular renovation these values can go higher.  In recent years, we have seen several apartments trade for more than $3 million.

At present, there are three apartments available for sale.  Our favorite is Unit 226, a one-bedroom loft offering 1230 square feet of renovated perfection.  At an ask of $1.075 million, about $873 per square foot, and extremely reasonable monthlies of $1414, this apartment has been on our radar.  

This loft residence is represented by Carol Wang, Wenrui Chen, and Paul Pinizzotto of Compass.  Please visit Linecity.com to learn more.

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