Quay Tower is not like most of the new residential skyscrapers rising in Brooklyn. The project sits directly against the Brooklyn Heights waterfront, soaring 30 floors above the neighboring brownstone-filled streets, and features a glassy façade paired with brushed copper-hued metals that evoke the iron girders along Pier 6, nearby. Now, the building has now shattered a record for the entire borough, with its penthouse entering contract for $20 million, nearly $4 million over the previous record for a Brooklyn apartment set by actor Matt Damon.
Douglas Elliman Development Marketing is responsible for sales. Other units range in price from $1.9 to $5 million.
The sale combines two units to create a massive five-bedroom residence yielding 7,433 square feet of indoor space and 1,180 square feet of terraces. This unit will come with the views captured from YIMBY’s early September visit. The building will be packed with amenities, including a fitness center, dog spa, conference rooms, kids space, and bicycle parking.
While $20 million sales are generally no indicator of affordability, the news comes at a time when market-rate rentals in other boroughs are opening with two-bedrooms for $1,800 per month. Some may see the news regarding Quay Tower as an indictment against the impact of new development on pricing, but on the contrary, the milestone comes amidst general pricing decreases brought on by the ongoing surge of new construction. Quay Tower is simply attractive new product in a specific and desirable location where such typology did not previously exist, and if anything, the number is a hopeful sign that the nascent construction boom in Brooklyn Heights and beyond will remain robust.
The 315-foot-tall structure yields 274,500 square feet for residential use. 126 units will be created, averaging 2,180 square feet apiece, indicating large layouts.
RAL Companies and Oliver’s Realty Group are responsible for the development, and ODA is responsible for the design. Completion for the building is expected by July of next year.