STARTING AT A RELATIVELY THRIFTY $500,000 FOR STUDIOS, THIS NEW BOERUM HILL DEVELOPMENT OFFERS DESIGN PEDIGREES AND AMENITIES BEYOND ITS PRICE POINT
BY EVAN MONROE
It’s a testament to the overheated real estate environment of the day that, when the Nevins’s mix of studios and one, two, and three bedroom apartments was first listed in early 2016, their entry point of approximately $500,000 for studios and $800,000 for one bedrooms in the 21 story, 73 residence building in Boerum Hill constituted an opportunity for thrift in the neighborhood, at least when compared to nearby developments like the Boerum and 465 Pacific.
It helped that e Nevins’s pedigree was impressive from the start, including design architects Isaac & Stern (a firm that was also the author of similar mid height towers like 609 619 4th Avenue and 308 N. 7th Street, both in Brooklyn), interiors by Andres Escobar & Associates, and developers Naveh Shuster Group and Adam America Real Estate at the helm. The latter company purchased the site for $33 million, according to Crain’s, and Adam America co-founder Dvir Cohen Hoshen said at time of sale that “this couldn’t be a more prime location for high end condos and first rate retail space,” pointing particularly to the property’s proximity to Barclays Center.
Occupancy began last year, and sales have been brisk, in part because of a 15 year tax abatement on many units. Otherwise known as 421 and Abatements in the tax code, the program was launched in the city in 1971 to encourage the development of formerly blighted areas, and typically lasts for just 10 years, so this represents a real opportunity, particularly for first time buyers.
The residence seen here, #8D, offers a 1,115 square foot, two bedroom and two bath floor pan, and was recently listed for $1,475,000. The largest currently available unit, a two-bedroom, two and a half bath layout with 1,244 square feet of interior space and a 361 square foot private terrace, is available at time of press for $1,910,000. For #8D, estimated maintenance is $950 per month, with an estimated real estate tax of $130 per month until the abatement period ends.
Like most of the homes in the building, both include six inch wide plank oak flooring, a Diakin central A/C and heating system, Canadian white oak veneer lower cabinets (under cabinets are white lacquered wood), Caeserstone Frosty Carrina Quartz countertops, a Signature brand stainless steel under-mounted sink, and Grohe faucets.
Common amenity highlights include a 24 hour doorman and concierge, fitness center and yoga studio, a package room, a lounge designed for impromptu entertainment, a kid’s playroom, bicycle storage, and private locker storage. There’s also a rear outdoor courtyard with lounge seating, along with a landscaped roof terrace.
342 Livingston Street / 718.797.5082 / thenevinsbrooklyn.com