An unparalleled location together with the perfect views, walkable neighborhoods and parkland is among the many … [+]
SERHANT
Quay Tower is a powerful new residential constructing located straight on the Brooklyn waterfront and rising thirty tales. Its place straight throughout the water from the southern tip of Manhattan makes for spectacular harbor and metropolis views. Along with the constructing’s facilities, they create a hotly-desired residing expertise. Everybody needs attractive sundown views, waterfront areas, walking-friendly neighborhoods, park and leisure areas and a spot to retailer bicycles, play music or to socialize with the neighbors. That combination of location and ease of residing could be at its greatest in New York Metropolis, however it’s not straightforward to search out.
Additionally it is more and more uncommon. In actual fact, Quay Tower, positioned at 15 Brooklyn Bridge Park Drive, on the Brooklyn Bridge Park waterfront, is the final new constructing it’s attainable to assemble in Brooklyn Heights.
For the previous 15 years, New York Metropolis has made waterfront growth a precedence, in search of to develop former industrial waterfront land that’s not used to service the shipbuilding and marine firms that when thrived in Brooklyn and Manhattan.
“The 95 acres that we constructed Quay Tower on was all Port Authority piers,” says Robert Levine, the chairman of RAL Corporations, developer of the constructing. “These piers had been lively till 25 years in the past. We began this challenge round 2005 or 6; we knew it could possibly be a spectacular place to name dwelling.”
Seen from Quay Tower, the piers are a powerful reminder of the world’s historical past. One is dwelling to a set of soccer fields, one other has backyard plantings and paths. Between them is a marina. All are managed by the Brooklyn Bridge Park Conservancy.
“They stated, earlier than we started, that they’d handle the amenities in the event that they had been self-funded,” Levine says. “We developed them as a part of constructing the tower after which turned them over to the Brooklyn Bridge Park Conservancy for perpetual use.”
RAL Corporations, based in 1979, began as an structure and design agency.
“We segued into land growth and have performed the whole lot in high-end hospitality and rental building in the US and the Caribbean,” Levine explains in a private interview.
In all instructions, the views from the Quay Tower properties are extraordinary
SERHANT
This historical past enabled Levine and his firm to undergo the grueling rounds of approvals required from zoning boards and the New York Metropolis Division of Parks & Recreation, which has performed an more and more massive position in dictating how new building websites join with public land. Levine and RAL Corporations thought-about resiliency throughout flooding and setbacks from the waterfront, ever extra vital because the local weather turns into extra threatening and unpredictable.
“For anybody growing actual property in New York, Hurricane Sandy was a serious wake-up name,” Levine says.
The pre-building course of was arduous: cautious negotiations relating to land use, connection to the park, enhancing the park, retail tenants, land leases, and extra, took years.
Contemplating the hurdles, RAL Corporations and Oliver’s Realty Group’s success in growing a record-setting constructing is extraordinary. In 2022, a 12 months when macro headwinds put large downward stress on the posh market, Quay Tower offered $98 million of stock; six offers had been completely money transfers. Solely a handful of items stay accessible.
It’s straightforward to foretell that they received’t keep available on the market for lengthy.
