If Brooklyn is becoming more and more like Manhattan, Atlantic Avenue is its Bowery.
While surrounding brownstone neighborhoods like Fort Greene, Clinton Hill and Prospect Heights have become rapidly gentrified and are seeing a growing number of expensive new condos, the famous thoroughfare has been slow to catch up.
But there are signs that Atlantic Avenue beyond Barclays Center might, finally, be on the verge of a makeover.
Developer RXR Realty recently bought the long-term lease of the 650,000 s/f office building 470 Vanderbilt at the corner of Atlantic and Vanderbilt Avenues for $200 million in partnership with American Landmark Properties.
RXR’s executive vice president Seth Pinsky said he hopes the building, which is mostly leased, will serve as one of the catalysts for the avenue’s development.