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Deals & Dealmakers

Brooklyn Luxury Condominium Building Milk Factory Sells Out

 Real estate brokerage REAL New York today announced the official sellout of Milk Factory, located at 850 Metropolitan Avenue. Comprised of 32 new construction residences, the property achieved the three highest price per square foot sales in East Williamsburg at nearly $1,700 per square foot. As the exclusive sales and marketing firm,REAL New York played an integral role in all phases of the project, from pre-launch to sellout.

“Milk Factory is a unique lifestyle opportunity and we were proud to be a part of it every step of the way,” said Jennifer Carey, Director of Sales at REAL New York. “The trajectory of the Brooklyn market is rising. The price per square foot achievements, which are 30% above average for Williamsburg in its entirety, is a testament to that demand.”

Co-developed by design firm ROART with 850 Metropolitan Ave. Investors, LLC, the former 19th-century Borden condensed milk distribution plant was reimagined into contemporary homes. It incorporates innovative architectural elements, including a cantilevered addition and multiple spaces that were redistributed to connect the community with nature. A second-floor terrace overlooks the building’s interior courtyard, complete with a garden and custom mural by a local artist. Another communal terrace at the front of the building is nestled underneath the cantilever, and over half of the residences have access to private outdoor space. Additional amenities include a fitness center, bike storage, virtual doorman and lobby lounge with a fireplace.

“Milk Factory’s history speaks to the evolving neighborhood and we wanted to add to that storyline, while preserving its distinct characteristics,“ said Ran Oron, founder of ROART.  “Fostering spatial relationships in the building and to the neighborhood was important, accomplished by the interior courtyard feature, along with various interconnecting public outdoor spaces for a truly seamless living experience.”

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