Downtown Brooklyn is quickly becoming one of NYC’s most desirable commercial hubs. On top of hosting a lengthy roster of big name retailers and entertainment centers—which include a new Target, Trader Joe’s, Century 21, Apple store, Alamo Drafthouse cinema, and Barclays Center—the neighborhood will also welcome a brand new, lower-priced Whole Foods concept store called “365.” According to a press release, the store will open in early 2018 at Two Trees’ 300 Ashland Place, and be set up as a no-frills version of the grocery giant.
300 Ashland Place
Apple opened its first Brooklyn store on Bedford Avenue in Williamsburg over the summer, which many felt was the final nail in the coffin of the neighborhood’s gentrification. The company has now set their sites on another rapidly developing part of the borough, as The Real Deal reports they’ve inked a 10-year deal for a 12,000-square-foot space in the ground floor Two Trees Management’s 300 Ashland Place in Downtown Brooklyn‘s BAM Cultural District. It was an off-market deal, so there’s no asking rent, but sources say the going price for the 32-story rental tower’s retail space is $150 per square foot.
Google Earth rendering of the new residential buildings going up in Downtown Brooklyn, via CityRealty.com
This time last year, 6sqft shared a report from CityRealty.com that detailed how Northern Brooklyn would be getting a staggering 22,000 new apartments over the next four years, with the majority, 29 percent or roughly 6,500 apartments, headed for Downtown Brooklyn. The trend has kept up, as the Times reports today that this number of units is concentrated among “19 residential towers either under construction or recently completed along the 10-block section of Flatbush stretching from Barclays Center north to Myrtle Avenue.” Another 1,000 units are coming to four buildings on Myrtle Avenue, and all of these are overwhelmingly rentals. In fact, 20 percent of the entire city’s rentals that will become available this year and next are in the neighborhood. But many believe this rental boom is fast approaching a glut that will cause prices to soften in a saturated market.
It’s been 14 years since Enrique Norten‘s ship-like design was chosen to sail upon a triangular site in an ambitious arts district planned for the area around the Brooklyn Academy of Music. Initially proposed as an eight-story glass building to house the Brooklyn Library for the Visual and Performing Arts, the project was altered to a mixed-use high-rise when Two Trees Management was brought onboard during the economic downturn in 2008.
Now officially known as 300 Ashland Place, the slab-shaped tower is a silvery 32-story icon that architecture critic Carter Horsley praises as a “gleaming, but mysterious steed” in the emerging Downtown Brooklyn skyline. It will house a smattering of public uses in addition to 379 apartments above. Earlier this July, leasing began on the 300 market-rate apartments that go for roughly $2,850/month for studios, $3,600/month for one-bedrooms and $5,750/month for two-bedrooms. And now, a housing lottery has launched for the 76 affordable units that include $889/month studios, $949/month one-bedrooms, and $1,087/month two-bedrooms.
The latest tower to open its doors in Downtown Brooklyn‘s BAM Cultural District is 300 Ashland, a 35-story, mixed-use tower from Two Trees Management that is offering 300 no-fee rentals. There are currently nine units available with studios starting at $2,850/month, one-bedrooms at $3,300/month and a single three-bedrooms from $5,750/month.
To coincide with the launch, the developer has published an official building website that brings a slew of new renderings, showing off TEN Arquitectos‘ perforated skin and the landscaped public plaza, as well as providing a first look inside the apartments.