| LCOR's 142-unit 34 Berry in Williamsburg, Brooklyn is like a mothball in a coal bin—it stands out as one of the few full-service rental buildings in the condo-heavy neighborhood. And LCOR SVP David Sigman says it almost wasn't built there. During the heated condo market, Williamsburg was rezoned and land was too expensive to justify building rental, he tells us. But after looking in Long Island City and Downtown Brooklyn, an opportunity opened up—LCOR purchased the site (once home to a seltzer factory) from a bankrupt developer for a “very economic price.” It was likely a good bet: Within the first month of opening at 12th and Berry, 50% of the building's studio, one- and two-bedroom units have already rented. |
| 34 Berry—adjacent to Brooklyn Brewery and McCarren Park and only one stop away from Manhattan on the L train—is attracting tenants, David tells us, drawn to Billyburg's eclectic nightlife and communal atmosphere. Like the surrounding neighborhood, the building itself is very community minded. Features include a lobby lounge and the top-floor "Berry Lounge," with a flat-screen TV, pool table, iPod sound system, catering kitchen, and a rooftop terrace with a community grill. David says that the neighborhood remains a desirable place, and LCOR is keeping its eyes peeled for more development opportunities there. |
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