Excavation is progressing at 9 DeKalb Avenue in Downtown Brooklyn, the site of the borough’s first supertall. The 1,066-foot-tall tower is designed by SHoP Architects and developed by JDS, which secured $664 million in funding for the project several months ago from Otéra Capital Inc. and Silverstein Capital Partners. The 73-story residential tower will eventually become the tallest structure in Brooklyn, as well as the first tower in the outer boroughs to pass the 300-meter supertall threshold.
New York City-based real estate investment group Hope Street Capital has officially launched sales for 98 Front Street, a new ten-story condominium development in DUMBO, Brooklyn. With pricing starting at $670,000, residences range from studios to four-bedroom homes with over 100 distinct layouts.
Condominium sales have launched for Milk Factory at 850 Metropolitan Avenue in East Williamsburg, following the residential conversion of the former Borden Dairy distribution facility. The development team has announced that occupancy is anticipated by the fall of 2019.
JBA Equities has successfully arranged a $38 million deal in construction financing for a ground-up rental building in Greenpoint, Brooklyn. The 11-story development will include 80 residential units, 4,828 square feet of retail space, and 34 parking spaces.
YIMBY recently went on a hard hat tour of One Willoughby Square, aka 420 Albee Square in Downtown Brooklyn, which is on track to become the tallest new office building in the borough. The 495-foot-tall building, which will contain 500,000 square feet of Class A office space across 34 stories, is being designed by FXCollaborative and developed by JEMB Realty. Gilbane Development Company is in charge of the construction progress.