Avery Hall Starts Pre-Leasing Brooklyn Mixed-Use Community

One Boerum Place will see its first move-ins this summer and a majority of its units completed by late fall.
One Boerum Place. Image courtesy of Williams New York

Avery Hall Investments has started preleasing at its luxury mixed-use community next to the Brooklyn Bridge’s entrance. Move-ins at One Boerum Place are expected to start this summer when the lower floor residences are expected to be complete, while the majority of the residents are scheduled to be finished by late fall 2021.

The developer broke ground on One Boerum Place in February 2019 and secured a $165 million construction loan for the project shortly after. The 22-story residential building will offer 96 market-rate units in one-, two-, three- and four-bedroom floorplans that start at 700 square feet as well as some duplex residences. The units are being built with 10-foot ceilings, oversized windows with nearly half of the units featuring private outdoor space with landscaped terraces and gas connections for grilling.

The units were designed by Gachot Studios, while the outdoor spaces were designed by Brook Landscape. Avery Hall has also tapped FirstService Residential to manage One Boerum Place.

The community’s amenities include a garage, lap pool, sauna, fitness center, resident’s lounge, children’s playroom, pet spa, rooftop park, bike storage and outdoor spaces. One Boerum Place is also situated next to four train stations that give residents access to eight different subway lines.

BROAD OPTIMISM FOR BROOKLYN

Avi Fisher, founding partner at Avery Hall, told Multi-Housing News that the community is launching during a time of broad market optimism due to increases in local vaccination rates and a lack of competition for the type of rental product that One Boerum Place offers.

“We have seen a voracious appetite for top notch family sized residences in the larger Brownstone Brooklyn area as of late,” Fisher told MHN. “These residents are either returning to the city after a respite away during peak COVID and or those who are already local, but are devoid of acceptably sized and finished residences.”