The Real Deal New York

Brooklyn’s building bonanza

Developers in the borough are constructing new (and big) rental towers in force

From the March issue: A wave of new residential units is slated to hit the Brooklyn market in the next several years — and thousands of them will be rentals. At 88 Willoughby Street in Downtown Brooklyn, for example, the real estate investment trust AvalonBay Communities is developing an 861-rental-unit apartment tower. A few blocks away on Schermerhorn Street, developer Douglas Steiner is building a 720-unit rental. Meanwhile, Jeffrey Levine’s Douglaston Development, the company behind the Edge condominium, is planning a 40-story, 510-unit rental tower at 1 North 4th Place in Williamsburg, the third Northside Piers building. [more]