Real Estate Weekly
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Residential

NEW DEVELOPMENTS: Adam America; Stahl; Tribeca Associates

●AARE/ HORIZON GROUP
‘ProCro’ welcomes new arrival

500Sterling
Adam America Real Estate (AARE), in partnership with the Horizon Group, has launched leasing at 500 Sterling Place, a new rental development in the area dubbed “ProCro” on the border of Prospect Heights and Crown Heights.
The seven-story residential property includes studios, one-bedrooms and two-bedrooms.
Omri Sachs, co-founder of AARE, along with Dvir Cohen Hoshen, said, “We saw 500 Sterling as an opportunity to deliver a luxury rental property at an attainable price point at the intersection of two of Brooklyn’s trendiest new neighborhoods.”
500 Sterling offers “modern design-focused elements with custom touches.ˮ Kitchens are finished in limed oak wall cabinetry, Caesarstone countertops and appliances by Fisher & Paykel and KitchenAid. Every unit (including studios) has a washer/dryer.
The building has a double-height lobby, roof deck with misting wall, outdoor movie projection capabilities, game and lounging areas, and barbecuing stations. Almost every unit also has private outdoor space.
Amenities also include a windowed gym, parking, part-time doorman, package room, private and bicycle storage and live-in superintendent.
Halstead Property Development Marketing (HPDM) is the exclusive marketing and leasing agent for the property.
Senior vice president Brendan Aguayo said, “With price points lower than those in other Brooklyn neighborhoods such as Williamsburg and Park Slope, we are anticipating a quick lease up.”
Studios begin at $1,995; one-bedrooms begin at $2,495; and two-bedrooms begin at $3,100. Move-ins are scheduled for July 1, 2014.

● TRIBECA ASSOCIATES / STARWOOD CAPITAL
Baccarat model unveiled

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Baccarat Hotel & Residences New York announced the completion of its model residence, offering the first glimpse inside the 50-story Skidmore Owings & Merrill designed glass tower.
Conceptualized by Stephen Sills, the residence combines modern French design with a contemporary New York aesthetic.
Every aspect of the home is finished with jewel-like details, in a nod to the Baccarat brand.
The residential tower, now over 60 percent sold, will be available for occupancy in August 2014.
The tower is a joint venture between Starwood Capital Group and Tribeca Associates and features 60 private residences atop a 114-room luxury hotel, the global flagship for Baccarat Hotels.
Interior designer Tony Ingrao conceptualized the tower’s private residential lobby as well as the interior layouts and finishes of the 60 residences, while Paris-based Gilles et Boissier designed the interiors of the hotel.
The residence, located on the 36th floor, is 2,525 s/f of living space including three bedrooms and 3.5 bathrooms, with floor-to-ceiling windows with views of Central Park.
“I am deeply honored to partner with this legendary brand to design the luxurious interiors of the model residence,” said Sills. “The unparalleled quality, grandeur and beauty of Baccarat was my inspiration for this remarkable space.”

●BRP COMPANIES
Big re-launch at The Braford

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Ideal Properties Group announced the re-launch of The Bradford in Bedford Stuyvesant.
The building was constructed using environmentally responsible methods and is certified gold by the Leadership in Energy & Environmental Design rating system, which was developed by the U.S. Green Building Council.
Green features in each unit include individual-room programmable thermostats, energy-efficient lighting, water-conserving dual flush toilets and energy efficient appliances.
Prices are $2,096 one-bedroom residences and $2,515 for two-bedroom apartments, according to Ideal Properties Group, the exclusive marketing firm.
The building, formerly marketed as “Acacia,” was developed by BRP Companies, which also built The Clermont in Brooklyn.
“Bed-Stuy is filled with serene tree-lined streets and stately brownstones creating a welcome respite from the hustle of daily life,” said Aleksandra Scepanovic, managing director of Ideal Properties Group.
“The lack of inventory is impacting the entire borough, including this historic neighborhood, and we are happy to market The Bradford to our future neighbors interested in an area that is blending together the Brooklyn of the past and of the future.”
The building has a recreation and lounge area, a red-rose garden within an outdoor courtyard and a fitness center.

● THE STAHL ORGANIZATION
Buyers, renters heading across river
to 388 Bridge Street

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Developer of Downtown Brooklyn’s 388 Bridge Street, The Stahl Organization, along with the exclusive sales and marketing team, Halstead Property Development Marketing, within 16 days of launching sales at the building, 44 of the 104 condominium units have accepted offers, contracts out or executed contracts.
With move-ins scheduled for this summer, buyers are flocking to Brooklyn’s tallest building, at 53-stories and 590 feet, for views, location and luxurious amenities, according to the developer.
“The rapid velocity of sales at 388 Bridge is indicative of the pent-up demand and lack of inventory in Downtown Brooklyn, and we can’t believe the tremendous response we’ve had in 16 days of sales,” said Gregg Wolpert, co-president of the Stahl Organization.
“There were droves of buyers and brokers and the feedback we received was phenomenal. We’re confident that between the quality, location, space and amenities, 388 Bridge Street offers something for everyone.”
Designed by SLCE, 388 Bridge Street features a mix of 104 condominiums, 40 penthouse residences and 234 rental apartments.
The condominium residences are located on floors 32 through 44 and range in size from 530 s/f studios to 1,153 s/f two-bedroom homes.
Based on the sales response, Stahl has decided to release 388 Bridge Street’s Penthouse Condominium Collection which includes 40 penthouses located on floors 45 through 53. Most residences are either duplexes, have outdoor terraces or both.
Both condo and penthouse owners have exclusive access to the building’s Sky Lounge, a 1,245 s/f entertainment area on the 46th floor.
A 2,862-square-foot indoor amenity space on the fifth floor includes a lounge and party room with kitchen pantry; children’s playroom; media/screening room and fitness center.
Also on the fifth floor, and located right outside of the indoor amenity space, is a 4,950 s/f outdoor terrace with barbeque grilling area; children’s playground and ipe-wood deck .
388 Bridge Street’s retail floors include 53,965 s/f of space as well as a two-story Manhattan Athletic Club that will be open to residents and others by membership only beginning in late July.
Unique components of 388 Bridge include its color-changing crown that is powered by the building’s two wind-turbines and its FujiTec elevators that rise 1,000 feet-per-minute, giving 388 Bridge Street the distinction of having the fastest elevators in Brooklyn.
The building also features a natural gas-fired emergency electrical generator and a live-in super.

●GKA
Williamsburg lofts to open in the fall

A three-story building located at 172 North 10th Street in Williamsburg that had housed manufacturing businesses for many decades is being restored and returned to residential use.
The building, originally constructed in 1920, is being transformed into a collection of 14 loft condominium residences designed by Gene Kaufman Architect, P.C. (GKA).
“This was a unique opportunity to convert a manufacturing building that retains its original residential character on the street back to residential use, completing a life cycle transformation of the property and cementing the roots of this neighborhood, which is simultaneously marginalized industrial and the epicenter of cool,” said Kaufman founder of GKA.
The project is slated to include 12 lofts on the building’s three existing levels as well as two duplex penthouses which will be comprise a new rooftop addition offering views of Brooklyn and Manhattan.
Construction on the project is more than 80 percent complete with the opening scheduled for early fall.

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