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MAP: Nearly 600 Apartments Coming to South Williamsburg Next Year

By Serena Dai | October 16, 2014 7:32am | Updated on October 17, 2014 4:54pm
 More than 600 units are anticipated to be complete in 2015 and early 2016. Most of the are luxury, market-rate units. Just 19 will be affordable units.
South Williamsburg Developments
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SOUTH WILLIAMSBURG — Next year is looking to be a big one for new apartments and condos in South Williamsburg.

The area south of Grand Street has several construction projects that are expected to bring about 600 new units through late next year. All but 19 of them will be luxury, market-rate housing, with amenities ranging from rooftop terraces and yoga rooms to a swimming pool.

Andrew Barrocas, president of real estate firm MNS, said his company has its eye on some 700 units in the area over the next several years. This does not include the Domino Sugar Factory project on Kent Avenue, where the first 500-unit building won't be ready for tenants until 2017.

Barrocas predicts that the for-purchase properties will be priced $1,100 to $1,400 a square foot, depending on the project. The higher price points will bring better craftsmanship and amenities, things that are in high demand as North Williamsburg becomes more developed and transient, he said.

"It's a much higher quality than we've ever seen before," he said. "The price points have gotten to the point where you could no longer get away with building at a certain [lower] quality."

DNAinfo New York rounded up some projects currently under construction in South Williamsburg, with openings expected next year and in early 2016.

282 South Fifth St., also known as 285 Broadway and 287 Broadway

This 13-story building near the Marcy Avenue JMZ stop will have 82 units and a slew of amenities, including outdoor space, a dance studio, a children's playroom and a yoga room. Plus, 24-hour gym chain Planet Fitness has applied to open in the building.

The land itself, spanning 28,000 square feet, sold for $3 million in 2010, according to the Department of Finance.

A partial stop-work order was placed on construction as of Aug. 25. Its expected completion date is fall 2015.

248 Broadway

Just down the street, a seven-story building with 30 units and 15 parking spaces is under construction. According to Department of Buildings filings, the property will also have retail space and a health facility.

Its anticipated completion is summer 2015. A partial stop-work order was placed on the property in May, according to the Department of Building website.

421 Kent Ave., The Oosten

The much-discussed Oosten condos are owned by a Chinese firm and designed by a Dutch company, with amenities like a decorative rooftop pool and an underground one for swimming.

With seven stories and 216 units, the development represents a huge portion of the new properties that will be available in South Williamsburg between winter 2015 and winter 2016, according to a spokesperson.

Its sales center has been open nearby at 53 Broadway for weeks now and many of the properties are already in contract.

On the less expensive side, a 740-square-foot one-bedroom condo listed at $710,000 is under contract. On the higher end, a 3,880-square-foot, four-bedroom duplex listed for $3.65 million has been signed for as well.

433 Kent Ave.

Right next door to The Oosten is another red-brick behemoth that will bring eight seven-story buildings with "recreational space," expected to be completed in 2015, according to documents posted at the site.

Each building will house at least 14 units, with most offering 21 apartments.

According to Department of Building records, the development will also offer 227 underground parking spaces, 48 above ground spaces and 81 bicycle parking spaces.

79 South Fifth St. and 338 Berry St.

A new building rising at 79 South Fifth St. is being built by the owner of 338 Berry St., an eight-story building next door that used to be a noodle factory.

Developer Mona Gora has been trying to convert 338 Berry St. into a residence for years since she purchased it for $12 million in 2005. After a tenant lawsuit and a struggle for city approval, the DOB finally approved her plan last October.

The renovated noodle factory, which combines both addresses, will have 54 units, including two penthouse apartments with private terraces. It will also house a fitness center, outdoor terraces and storage for 29 bicycles.

The six-story, new-construction building next door at 79 South Fifth St. will have six units and a roof terrace, according to filings with the DOB.

An anticipated September 2015 finish date is posted at the site, which also displays a rendering of both buildings.

95 South Fifth St.

An old, bright red-brick building on the lot will be expanded into a six-story, 23-unit building at the corner of Berry Street, according to Horrigan Development.

In addition to the apartments and terraces, the property will have nine parking spaces and retail space on the ground floor. The developer purchased the lots in 2013 for $3.5 million, public records show. The expected completion date is spring 2016, according to a notice on the site.

356 Bedford Ave.

This planned five-story, 19-unit building is one of the few affordable developments popping up in the area.

In addition to apartments, the property will have retail, bike storage, a health care facility and a recreation area, according to Department of Building records. Its anticipated completion date is winter 2015.