Brodsky family looks to Brooklyn

TRD New York /
Nov.November 12, 2012 09:30 AM

The Brodsky family has been developing Manhattan real estate for more than 50 years, eventually becoming the city’s largest developers of middle-class housing. But the development group is now turning its attention to a 440-unit rental project at 336 Flatbush Avenue Extension in downtown Brooklyn, known as City Point, according to the Wall Street Journal.

Dean Amro, the grandson of Nathan Brodsky, said the firms is focusing now Brooklyn because Manhattan has simply become too expensive for middle-class or affordable housing. “We couldn’t find locations in Manhattan,” Amro said, noting recent changes in Brooklyn that have made it an increasingly attractive place to live. “We have a lot of excitement about going into Brooklyn and we think in the long term it will be good for us.”

The Brodsky Organization is also scouting a second Brooklyn location, while still keeping a toe in Manhattan’s luxury market, with developments at  200 West 60th Street and 75 West End Avenue, both on the Upper West Side.

“We’ve found our comfort zone,” Amro said. “We’re not entering into different cities, not venturing into the office market…We are sticking to our core business and what we’re good at: residential housing in New York City, both rental and condominium.”

The firm currently owns and manages more than 50 Manhattan buildings with about 7,000 apartments. [WSJ]Christopher Cameron


Related Articles

arrow_forward_ios
The Brodsky Organization’s Daniel Brodsky and a rendering of 664 Pacific Street in Brooklyn (Credit: Getty Images and Pacific Park Brooklyn)

Brodsky lands $144M BNY construction loan for Pacific Park building

The Brodsky Organization's Daniel Brodsky and 400 West 113th Street (Credit: Getty Images and Google Maps)

Brodsky Org buys rental building from church for $57M

Brodsky Org picks up a second Pacific Park development site

Brodsky Org picks up a second Pacific Park development site

Here’s what the $10M-$20M NYC investment sales market looked like last week

Here’s what the $10M-$20M NYC investment sales market looked like last week

Grammy-winning songwriter says his Manhattan landlord stole $265K from his oven

Grammy-winning songwriter says his Manhattan landlord stole $265K from
his oven

Dalan Management, Elion Partners buy apartments across from Google HQ for $83M

Dalan Management, Elion Partners buy apartments across from Google HQ for $83M

Gaia Real Estate acquires 90 Upper East Side condo units for $53M

Gaia Real Estate acquires 90 Upper East Side condo units for $53M

TF Cornerstone, Brodsky take over 3 sites at Pacific Park

TF Cornerstone, Brodsky take over 3 sites at Pacific Park

arrow_forward_ios
Loading...