No more going around the corner for a cheap designer blouse in the dusty throes of Quincy Street’s Salvation Army. It was inevitable: the massive, stone edifice that forms one of the huge, muscled south wings of the cul-de-sac crowned at Quincy’s west end by the former castle mystery, now luxury high-rise-elect, is going, going gone to a bidder for $30,000,000.
According to Brownstoner.com, “The former warehouse and stable at 22 Quincy Street is in contract for an amount around $30,000,000, we hear. The asking was about that, and there were multiple bidders.
As far as we know, it is an off-market transaction. The buyer was not revealed”.
“It was designed in 1899 by Francis Kimball for one of Brooklyn’s largest and most prestigious department stores, Frederick Loeser & Co. The top three floors served as the company’s warehouse. On the bottom floor was a stable for deliveries. Inside, ramps for vehicles still connect the floors.
“Although the original stable doors are gone, the building retains its stable door openings and all its other features.
“Fortunately for those who rely on Salvation Army, the charity recently opened another location on Fulton in Bed-Stuy.”
An Our Time Press reader told us, “The Salvation Army is a hell of a lot smarter than NYC and NYS. The SA bought low, did business while real estate went on a wild hay ride and then cashes out. They’re just a charity.
“Government pretends to be smart but plays the market backwards: Doesn’t buy when the market was low, doesn’t maintain properties, warehouses them as they deteriorate, then gives them away when the market’s so hot to developers who will pay anything and bid up the price.”
Three years ago, the Brownstoner.com reported about the sale of the Salvation Army on the corner of North 7th and Bedford Avenue in Williamsburg. It was replaced by a two-story building.
Regarding Salvation Army’s Quincy location, Brownstoner.com says,
“Given the price, it will likely be made over into a residential building, our source speculated, despite its enormous footprint and relative lack of windows. The building is 70,158 square feet and is over FAR, so demolition is unlikely. It is not landmarked.”
(Compiled from sources by Bernice Elizabeth Green)