$535M Secured For One Third Avenue In Downtown Brooklyn
Alloy Development and The Vistria Group have closed on $535 million in capital for the construction of One Third Avenue, the second phase of the Alloy Block in Downtown Brooklyn. Designed to be the tallest Passive House building in the world at 730 feet, the 62-story mixed-use tower will deliver 583 market-rate and affordable housing units, retail, and office space. One Third Avenue follows 505 State Street, New York City’s first all-electric skyscraper, and 489 State Street, home to the city’s first Passive House public schools. The property is bounded by Flatbush Avenue to the north and east, State Street to the south, and 3rd Avenue to the west.





