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Dec. 23, 2013

Stahl Begins Lease-Up at Brooklyn’s Tallest Residential High-Rise

By Dees Stribling, Contributing Editor

Brooklyn, N.Y.—Leasing has started at the rental units of 388 Bridge Street, a 378-unit multifamily development in Downtown Brooklyn, the district east of Brooklyn Heights and DUMBO in the northwestern part of the borough, and a major New York CBD in its own right. The property, which rises 53 stories and is now the tallest residential building in the borough, includes 234 rental apartments and 144 condos.

Rates at the rental units range from $2,540 per month for a lower-level studio to $6,290 for an upper-level two-bedroom, with the units ranging from 490 square feet to 1,166 square feet. The apartments will be ready for move-in by February. Halstead Property is handling leasing at the luxury asset, which was developed by the Stahl Organization.

As befitting new development, the property’s prices are generally higher than average for Downtown Brooklyn. According MNS, studios in the neighborhood average $2,408 a month, while two-bedroom units fetch an average of $3,735. Overall in the borough, studio rents have increased 7.6 percent since November 2012, while two-bedroom rents have increased 2.6 percent.

Common amenities at 388 Bridge Street will include a 4,950-square-foot rooftop terrace with grilling stations. The building’s 2,860-square-foot indoor amenity space on the fifth floor sports a lounge and party room with kitchen pantry, children’s playroom, and fitness center. Unit amenities will include floor-to-ceiling windows with solar shades, nine-foot ceilings, and Bosch Axxis washers and dryers.

Designed by SLCE Architects, 388 Bridge Street is an all-glass building enhanced by a lighted crown powered by the building’s two wind turbines. The condo units will be on the upper floors of the property. They are not for sale yet, and the Stahl Organization hasn’t released a timetable for bringing them to the market.

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