Xin Development Group has closed on a $45 million inventory loan for The Oosten Condominiums in South Williamsburg, Brooklyn. The owner and developer will use the inventory loan to pay off remaining construction loans secured to finance completion of the property.
Construction is complete on The Willoughby, a 34-story mixed-use tower at 196 Willoughby Street on Long Island University‘s Downtown Brooklyn campus. Designed by Perkins Eastman and developed by RXR Realty, the structure yields 476 residential units as well as academic and office spaces, an adjacent athletic field, and parking for 564 vehicles. Hunter Roberts Construction Group served as the general contractor for the project, which is bound by Willoughby Street to the north, Ashland Place to the east, DeKalb Avenue to the south, and Flatbush Avenue Extension to the west.
Demolition is progressing at 98 DeKalb Avenue, the site of a 49-story residential skyscraper in Fort Greene, Brooklyn. Designed by SLCE Architects and developed by Rockrose Development, the 612-foot-tall tower will yield 418,092 square feet with 609 residential units and 3,775 square feet of commercial space. PAL Environmental Services is the general contractor for the project, which is alternatively addressed as 180 Ashland Place and is located at the corner of DeKalb Avenue and Ashland Place, across the street from The Brooklyn Hospital Center and a short walk from Downtown Brooklyn.
Demolition is complete at 570 Fulton Street, the site of a 45-story mixed-use tower in Fort Greene, Brooklyn. Designed by Hill West Architects and developed by Davis Companies, which took over for Slate Property Group in late 2020, the 200,000-square-foot structure will yield 123 apartments above 87,000 square feet of commercial space. The property is located on a plot bound by Fulton Street to the north, Flatbush Avenue to the west, and Rockwell Place to the east.
Occupancy has begun at One Boerum Place, a 22-story residential building in Downtown Brooklyn. Designed by SLCE Architects and developed by Avery Hall Investments, Allegra Holdings, and Aria Development Group, the $250 million project yields 96 market-rate rentals designed by Gachot Studios in one- to four-bedroom layouts, as well as a range of indoor and outdoor amenities. Leeding Builders Group served as the general contractor for the property, which is bound by Boerum Place to the west, Fulton Street to the north, and Red Hook Lane to the east.