Prime Rok Real Estate breaks ground on $5.26 million development

Brooklyn, NY Midtown-based development firm, Prime Rok Real Estate, closed on the acquisition of a 4,700 s/f development site on Bedford Ave. in Bed-Stuy and broke ground in the beginning of December. Slated at a value of $5.26 million, 1044 Bedford Ave. is the future location to a 24-unit multifamily property that will feature various amenities such as a gym, doorman, and roof-deck lounge to appeal to the large influx of professionals and young families that are relocating to the neighborhood. Afshin Hedvat, principal of Prime Rok, views this project as an opportunity to establish his firm’s presence in Bed-Stuy, which has seen exponential growth in the last five years. “Bedford Ave. is a main thoroughfare that spans across the borough. Market research suggests a large influx of condo buildings have been and will be sprouting throughout the avenue, but we are interested in providing new development rental product that has been largely lacking in the area,” he said. Acquisitions manager, Shah Eatemadpour, has a bright outlook on the neighborhood as well. “With 24,000 buildable s/f over 24 units, some being duplexes, Prime Rok will deliver spacious, high end living at a rental price point that that cannot be matched in Manhattan and more developed areas of Brooklyn.”