After nearly a decade on the backburner, construction is underway at 354 Hicks Street, a 20-story mixed-use tower set to rise on the northwest edge of Cobble Hill, Brooklyn. Developed by Madison Realty Capital, the 145,000-square-foot project will deliver 34 condominium residences above five floors of medical community facility space and a large parking garage.
Once known as One River Park, the project was once part of Fortis Property Group’s broader (and controversial) master plan redevelopment of the former Long Island College Hospital campus. This 25,000-square-foot site, spanning the block between Atlantic and Pacific streets, will give way to a 258-foot-tall tower offering residential units sweeping views of New York Harbor and the Lower Manhattan skyline.
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Architecture firm Hill West now leads the design, taking over from FXCollaborative. While the new building retains a similar massing to earlier plans, updated renderings show the removal of the undulating balconies originally envisioned. Ceiling heights for the community facility floors have also been lowered, increasing the total floor count from 15 to 20. Unfortunately, the design seems to have little to do with what makes living in Cobble Hill and brownstone Brooklyn great. Completion is anticipated for 2027.
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There will be 34 residential units, down from 48 studio to three-beds envisioned in the previous design. Apartments will begin on the ninth floor, with three to four homes per level up to the 17th floor, two units on the 18th floor, and a full-floor penthouse above. Amenities will mostly be located on the eighth floor, including a resident lounge, fitness center, and outdoor terrace. An attended parking garage will serve both residential and community uses, though documents present a discrepancy: building permits indicate 307 spaces, while the floor schedule notes 174. A large garage previously occupied the site as part of the hospital complex.
While Fortis acquired the former hospital site in 2015 for $240 million, it only completed a portion of the master plan: the Polhemus Residences, Polhemus Townhouses, and 5 River Park. Recent sales at 5 River Park have surpassed $2,000 per square foot, and all units across the three components are currently sold out.
In 2022, Fortis sold the 354 Hicks Street site, along with nearby 91–95 Pacific Street (originally planned as 2 River Park), to Madison Realty Capital to avoid foreclosure. Last year, Madison sold the Pacific Street parcel to Rockrose for $65 million. That site is approved for a 30-story, 440-foot tower with 102 residential units, though updated filings have yet to emerge.
As part of the original agreement to replace Long Island College Hospital, a new ambulatory center opened across the street in 2023. The Joseph S. & Diane H. Steinberg Ambulatory Care Center at 70 Atlantic Avenue provides outpatient and emergency services, spanning 19 medical and surgical specialties and including radiology, imaging, and an infusion center.
The Joseph S. & Diane H. Steinberg Ambulatory Care Center at 70 Atlantic Avenue (Perkins Eastman Architects)
Would you like to tour any of these properties?
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