Blackstone Group sells London Hotel for $382M

Developer Jeffrey Gershon of Hope Street Capital has locked up the entire southern blockfront of Atlantic Avenue, between Vanderbilt and Clinton, with 99-year leases for two sprawling parcels at 529 Vanderbilt and 809 Atlantic. It is expected to take on a 550 Clinton address.

The site — home to ramshackle car washes and repair joints — is opposite the McDonald’s and the Pacific Park project. Up the block, a 2012-era rental at 525 Clinton has shown the area is ripe for modern apartments.

According to the Real Deal, Gershon with AEW Capital has an upcoming condo project farther west at 520-528 Atlantic Ave., and another rental expected at 190-196 S. 1st St. in Williamsburg.

Gershon did not comment.