The angular reinforced concrete superstructure of One Boerum Place is rapidly taking shape in Downtown Brooklyn. Located on a narrow site bound by Boerum Place, Red Hook Lane, and Fulton Street, the mixed-use condominium building will eventually top out at 21 stories. The project is being designed by SLCE Architects and developed by Avery Hall Investments, Allegra Holdings, and Aria Development Group, which acquired a $165 million construction loan from Jutland Finance. One Boerum Place is expected to cost around $250 million.
Avery Hall Investments
Excavation has begun for One Boerum Place in Downtown Brooklyn. The upcoming ground-up, mixed-use condominium tower will rise 21 stories on a narrow, triangular-shaped plot of land. The site is bound by Boerum Place, Red Hook Lane, and Fulton Street. SLCE Architects is the designer while Avery Hall Investments, Allegra Holdings, and Aria Development Group are the developers. The joint venture team was recently able to acquire a $165 million construction loan from Jutland Finance. The total cost of One Boerum Place is expected to be around $250 million.
Speculation has been raised around what Avery Hall Investments would do after purchasing a site from Brooklyn Law School for $76.5 million back in 2016, and acquiring 50,000 square feet of air rights from two nearby properties for another $16 million. Now, permits have been filed for a 21-story mixed use building at 7 Boerum Place, in Downtown Brooklyn. The high-rise will rise on the corner of Fulton Mall, a pedestrian area between Flatbush Avenue and Adams Street that houses over 200 stores. Avery Hall is partnering with Allegra Holding and Aria Development Group.
YIMBY has been given a first look at the brick façade for 145 President Street, in Brooklyn’s Carroll Gardens neighborhood. Last week the tarp was removed, revealing the building’s handcrafted masonry, produced by Petersen Tegl from Denmark. The style is renowned for having clean lines and neutral tones. East Village-based Avery Hall Investments is the developer.
Permits have been filed for Avery Hall Investment’s two-building development in Park Slope, Brooklyn. YIMBY last reported on the pre-filing for the six-story building at 680 Baltic Street in mid-October. Now, we also see specifics for the four-story 126 Fifth Avenue building. AHI is developing both buildings.