Slate Property Group and Avenue Realty Capital have closed on a $55 million loan to complete a 19-story residential building at 159 Boerum Street in East Williamsburg, Brooklyn. Designed by Aufgang Architects, the 80,000-square-foot structure will yield 120 units, with 19 reserved for affordable housing. Amenities will include a fitness center, a roof deck, a parking garage, and bike storage. The property is located between Graham Avenue and Humboldt Street.
The rendering in the main photo shows the façade composed of tan brick framing a conventional punched window system. Setbacks above the 11th and 15th floors will make way for large outdoor terraces.
“After successfully delivering our first ground-up rental project at 222 Johnson Street around the corner, which is now fully leased, we’re excited to expand our footprint in this prime area of New York City,” Martin Nussbaum, co-founder and principal of Slate Property Group, said in a statement. “Receiving financing from White Oak Real Estate Capital will allow us to bring 159 Boerum Street to life alongside our partner, Avenue Realty Capital.”
The project team has not announced an anticipated date of completion.
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Wow! There goes the neighborhood. It’s a decent, simple design.
I’m surprised something this tall is allowed here. Most high-rises in these areas seem to be capped at 12 or 13 floors.
That’s true, this thing is going to really stand out if nothing else gets built at the same height for the next several years
Wanita Alison-konteh I’m a senior citizen with is disability looking for an apartment