The Real Deal New York

Heatherwood plans another luxury rental project in Williamsburg

Firm targeting hopes to deliver 100 units at 134 Hope Street
By David Jeans | December 07, 2018 01:00PM

134 Hope Street (Credit: Google Images)

A seven story luxury rental apartment building is planned for Williamsburg, offering more inventory to the area that will be ready after the L train reopens (hopefully) in 2020.

Heatherwood Luxury Rentals is behind the 104,000-square-foot project at 134 Hope Street, which would contain 100 residential units, according to city Department of Buildings filings. Heatherwood co-owner Douglas Patrick did not respond before deadline.

Heatherwood has increasingly added large rental developments to its portfolio. Its 57-story rental tower at 42-12 28th Street in Long Island City was among the top 10 largest developments in the city last year. In August, the firm purchased a $16.8 million warehouse in the Bronx in August.

The firm also operates a 94-unit rental building in the Brooklyn neighborhood at 568 Union Avenue.

Other developers are also flowing into the Williamsburg market, where rents are falling due to the upcoming shutdown of the L train. Last month, Joe McMillan’s DDG Development filed permits for a seven-story building with 38 luxury residential units at 102-110 North 1st Street. And in July, Largo filed plans for a six-story property at 215 North 10th Street, for residential and office space.