East Group Capital has begun work on a boutique luxury condo in Boreum Hill.
328 Atlantic Avenue will feature four full floor homes atop an atrium-like retail space. A penthouse unit will have 20 ft. ceilings and three terraces overlooking downtown Brooklyn.
R&D Design Group is collaborating on the project with Itay Gamlieli and Ofir Badash, founders of East Group Capital and GZB Realty.
“At 328 Atlantic, we are combining modern and classic architecture to create a unique luxury condominium in the heart of an iconic Brooklyn neighborhood,” said Gamlieli. “The tree-lined streets of Boerum Hill Brooklyn are home to countless boutiques, gourmet restaurants and rows of brownstones.”
Designed by Daniel Vitenson of R&D Design Group, the building will offer “jewel box” ground floor retail with 22 ft. ceilings and a brick and glass façade.
Apartments will feature keyed elevator access, floor-to-ceiling windows and 1,680 s/f of interior space configured as three- or four bedrooms.
EGC purchased the property for a long-time owner for $4.25 million last year and expects the redevelopment to be complete by March 2021. Initial asking prices are expected to begin at $2.35 million.