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Avery Hall Investments Unveils Plans for 272 Fourth Avenue


Avery Hall’s Brian Ezra and 272 Fourth Avenue (Google Maps)
Avery Hall Investments has two potential plans for a development site in Gowanus, Brooklyn. Both depend on the city rezoning the neighborhood, and one relies on acquiring 50,000 square feet of air rights.
The developer on Thursday unveiled proposals for a 14-story residential building with 125 apartments at 272 Fourth Avenue. Under this scenario, more than 30 units would be set aside for low- to middle-income tenants.
That vision relies on approval of the proposed Gowanus rezoning, which would mandate a certain percentage of affordable housing in all-new residential construction as part of the city’s Mandatory Inclusionary Housing program. Avery also is eyeing 50,000 square feet of air rights owned by the city, which could be transferred from an adjacent MTA substation at 276 Fourth Avenue. ....

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Developer Pivots Luxury Brooklyn High-Rise Condo To Rentals


by Tyler Durden
Friday, May 07, 2021 - 06:00 PM
A high-end condominium glut in Brooklyn forced one developer to reconstruct its entire business model from condos to rentals for one of its new luxury highrises. 
Avery Hall Investments announced Monday the commencement of leasing at One Boerum Place located at Brooklyn Heights and Boerum Hill. Bloomberg notes the building was never intended for rentals, but a glut of condos in the borough and citywide forced the developer to change paths. 
Avi Fisher, a founding partner of Avery Hall, told Bloomberg that One Boerum Place was very much envisioned as a condo. At the time of construction, which began around 2016, the condo market in the borough was roaring, and all signs were pointing to continued growth, and in our company s history, this was the culmination of the condo pipeline we d amassed, he said.  ....

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Luxury Condo Tower in Downtown Brooklyn Switch to Rentals


450 West 31st Street, New York, NY 10001 Phone: 212-260-1332
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