Sales officially launch at Austin Nichols House

Jared Kushner and Asher Abehsera’s Williamsburg condo conversion aiming for $427.5M sellout

TRD New York /
May.May 06, 2016 07:30 AM

The Austin Nichols House, arguably the highest-profile condominium conversion along the Brooklyn waterfront, is all systems go. The 338-unit condo project at 184 Kent Avenue in Williamsburg is officially launching sales today.

The former Wild Turkey warehouse, developed by Jared Kushner’s Kushner Cos. and Asher Abehsera’s LIVWRK, was converted to luxury rentals in 2010 before Kushner and Abehsera snapped up the building last winter for $275 million.

With renovated interiors by architect Morris Adjmi, the condo will have a mix of studios, one-, two- and three-bedroom units, ranging in price from $540,000 to $3 million. Kushner and LIVWRK are aiming for a total sellout of $427.5 million, according to an approved offering plan filed with the New York State Attorney General.

“It’s a relic of Brooklyn’s industry history. The bones of the building are special,” Abehsera said, adding that they have a list of 1,200 prospective tenants.

Among the building’s amenities are a 500-square-foot “green wall” in the lobby that will hold 3,500 plants, as well as a “jam room” for musicians, a screening room, co-working space and communal rooftop.

Despite the 21st century creature comforts, Abehsera said the developers sought to preserve the industrial feel of the eight-story building, which also features an interior courtyard. “People in this area want a relic of history, they don’t necessarily want glassy, tall towers,” he said.

The 1915 building was originally built for Austin, Nichols & Co., a local grocer and Wild Turkey distributor. It was designed by Woolworth Building architect Cass Gilbert, and placed on the National Register of Historic Places in 2007. In 2010, Jason Halpern’s JMH Development converted the property into luxury rentals.

About 160 apartments are currently vacant and will be released to the market in batches, according to Abehsera.

Current tenants received “right to purchase” notifications this week, and have 90 days to notify the developers if they’d like to buy their unit for a discounted price.

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