505 West 19th Street via Thomas Juul Hansen
Scandinavian design is on the rise in luxury residences. At first, that might seem like an oxymoron since Scandinavian design was founded on the principles of utility, affordability, and simplicity – and high-end residents are not. But luxe and Scandinavian design have found much common ground.
From its early 20th century roots, based on Germany’s Bauhaus school and developed in the Nordic region, to the mass-produced appeal of Ikea, the trend has certainly remained at the forefront of the design world. And perhaps now it’s seeing its biggest moment, serving as a major selling point for hot new NYC condo projects such as Carroll Gardens’ 145 President and being reimagined by of-the-moment firms like Morris Adjmi and Denmark’s own Thomas Juul-Hansen.
Avery Hall Investments and co-developer OTL Enterprises are forging ahead with the development of pair of understated five-story condominium buildings at 161-163 Columbia Street in Cobble Hill‘s Columbia Street Waterfront District. The team picked up the lots in 2014 through a unique deal with the nonprofit Carroll Gardens Association where proceeds of the sale would be used to preserve below-market rate rents for 28 units on the street and possibly develop 70 more affordable units in nearby Red Hook.
Just one month after kicking off sales, Boerum Hill’s hottest new condominium development, 465 Pacific Street has already signed half of its 30 units into contract. Even more impressive is that the $55 million development is slated for completion some 18-months from now, with foundation pouring just commencing last month.
The project is conceived by a partnership between Avery Hall Investments and ARIA Development Group who paid $18 million ($373 per buildable square foot) for the L-shaped lot in May 2013, a record for a large Brooklyn parcel according to Crain’s New York.
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Avery Hall Investments filed permits last week for an eight-story, 20-unit residential building at the corner of Third Avenue and St. Marks Place. The site is situated in the area where bucolic Boerum Hill meets the utilitarian factory lofts of Gowanus. The development at 125 Third Avenue will replace a one-story commercial building that Avery picked up earlier this year for $5.65 million according to city records. The team also recently broke ground on another Boerum Hill condominium at 472 Atlantic Avenue designed by the context-sensitive Morris Adjmi Architects.
More details on the project