World's First Modular Residential Tower Launches Leasing In Brooklyn
Want to get a jump start on upcoming deals? Meet the major New York City players at one of our upcoming events!
After several delays and setbacks, the world’s tallest modular building and first modular residential high-rise has opened its doors.
Forest City Ratner has launched market-rate leasing at the 32-story, 363-unit 461 Dean St (pictured) at Pacific Park Brooklyn, the company’s 22-acre, Frank Gehry-designed mixed-use community. The building itself is open, and move-ins are expected in early December.
Designed by SHoP Architects, the tower has 149 studios (starting at $2,450), 166 one-bedrooms ($3,125) and 48 two-bedrooms ($4,750). There’s also 4k SF of ground-floor retail.
Half of the units are affordable and were decided by a lottery system with more than 84,000 applicants.
According to SHoP principal Chris Sharples, the off-site construction reduced the building’s environmental impact and could be the solution to building in cities. Considering Forest City Ratner sold its modular business to a former executive and CEO MaryAnne Gilmartin has said the company wouldn’t further pursue modular building, the method’s adoption may be far off.
To its credit, the modular method did require the units to have wall-hung toilets for truck transport, so that’s…neat, if you’re into that sort of thing. The building’s expected to have a LEED Silver certification, making it one of NYC’s 41 certified buildings.