Cobble Hill Blog
May 4, 2012
A new 85-unit luxury rental development is coming to Brooklyn’s Boerum Hill, one block from the border of Park Slope. Partners the Naftali Group and AEW Capital Management recently closed on a 90,000-square-foot site at 316 Bergen Street, at the corner of Third Avenue for $6.7 million. The eight-story building—with 45 residential parking spaces on the ground level—will include an attended lobby, health club, resident lounge, courtyard, storage and a roof deck with cabanas, sunbeds, a grill and dining area, with 360-degree views of Brooklyn and Manhattan, according to building reps.
The development is also in the vicinity of a Whole Foods market recently approved at Third Street and Third Avenue, next to the Gowanus Canal; and within walking distance to the 585-acre Prospect Park, with access to numerous subway stations and a five-minute walk from Atlantic Terminal.
“We are delighted to invest in this high-quality, well-located site to develop a luxury rental property in Brooklyn,” said AEW Director Anthony Crooks. “We believe the property will attract young professionals and families looking for affordable, quality housing, good amenities and access to public transportation.”
Residential brokerage aptsandlofts.com is expected to begin marketing the units in Summer 2013.
Naftali Group is also building a 104-unit luxury residential property at 267 Sixth Street, at the corner of Fourth Avenue. That project is also expected to come online next year. The firm currently owns 100 apartments and 20,000 square feet of retail space in Brooklyn.