When 6sqft checked in on Boerum Hill’s 465 Pacific Street in November, it was little more than a hole in the ground with roughly 50 percent of its 30 condo units already in contract. Now, a little more than four months later, its seven-story concrete skeleton has topped off and just a sole penthouse unit remains.
The $55 million development was forged through a partnership between Avery Hall Investments and ARIA Development Group, who purchased the block-through lot for $18 million in 2013. With Morris Adjmi Architects at the helm, the development is composed of two seven-story wings encompassing 85,000 square feet of floor space. Lower levels of the building are faced in a uniform skin of red brick and red mortar joints, while upper levels are finished in dark steel to pay homage to the Mohawk ironworkers who once maintained a community within the neighborhood.
The remaining unit is known as Penthouse A and is priced at $3.825 million ($1,602 per square foot). The four-bedroom spread spans 2,387 square feet, making it the second largest home in the boutique-sized development. Its unique floor plan grants occupants northern, southern and eastern exposures. The four bedrooms are positioned in opposite corners, and a central 21-foot-by-28-foot living/dining area serves as the home’s hearth. The space will offer a gas fireplace, oversized windows, and a private north-facing terrace. Another 52-foot-long, south-facing terrace lies along the master bedroom suite.
The building’s primary entrance will be along brownstone-lined Pacific Street, and amenities will include a gym, rooftop common space with private cabanas, resident lounge, children’s playroom, on-site parking for 16 vehicles, attended lobby, and bike storage. Average asking prices at 465 Pacific have averaged $1,389 per square foot, well below Manhattan’s median condo prices. Penthouse A received a $100,000 price cut earlier this month, bringing its price down by three percent. The slightly larger Penthouse 1 is already in contract and had an asking price of $4,850 or $1,642 per square foot. 465 Pacific is slated for completion in the first quarter of 2017.
See the full listing for 465 Pacific’s Penthouse A at CityRealty.
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Renderings courtesy of Morris Adjmi Architects; Construction shots via 6sqft
Neighborhoods : Boerum Hill