Meadow Partners Acquires Rocket Factory Lofts in Brooklyn
- Aug 14, 2014
Brooklyn, N.Y.—Meadow Partners has acquired 100 South 4th St., a rental property with 75 loft apartments known as Rocket Factory Lofts in Brooklyn’s popular Williamsburg neighborhood.
“The property is one of the few authentic loft conversions situated in one of the most popular areas of Brooklyn,” Jeff Kaplan, Meadow Partners’ managing principal, tells MHN. “It features spacious open loft layouts, with excellent light and air and spectacular views of the Manhattan skyline.”
Located between Berry Street and Bedford Avenue, the seven-story property is a converted manufacturing building that formerly housed a factory that made rocket parts.
Rocket Factory Lofts features a mix of open studio, one- and two-bedroom layouts, and each loft includes oversized windows, exposed concrete beams and columns, spacious layouts, 14-foot ceilings and natural hardwood floors.
Meadow Partners is planning a large renovation project over the next 12 to 18 months, including the addition of new kitchens and bathrooms with high quality finishes, an upgraded lobby, enhanced building entrance and a communal roof deck with outstanding views of Manhattan.
“Despite the property’s prime location in the heart of South Williamsburg, the property was in bankruptcy for the past five years,” he says. “With the exciting upgrades we have planned, we are aiming to bring the property to its full potential.”
According to Kaplan, Meadow Partners seeks properties in New York City and London that are generally in need of repositioning.
“We expect Rocket Factory Lofts to be one of Williamsburg’s most highly desired properties, as many of our clients dream of living in a converted, quintessential New York City loft building like this,” says David Maundrell, founder and president of aptsandlofts.com, the exclusive leasing agent for the property. “Meadow Partners has a strong track record of repositioning and upgrading properties, and is a highly respected developer and property owner; we are eager to start working together.”
Along with its proximity to public transportation (J,M,Z & L subway lines), the property also benefits from being surrounded by some of the best restaurants and bars in Brooklyn and will further benefit from the development of the Domino Sugar Factory which is directly down the street.
“South Williamsburg has emerged as one the most sought after submarkets in not only Brooklyn, but all of New York City for both residential and retail tenants,” Kaplan says.