After three generations in Manhattan real estate, Rose Associates is crossing the bridge into Brooklyn. The firm has been named the exclusive leasing agent for three Williamsburg properties: 184 Kent Avenue, 34 Berry and 309 Wythe Avenue. Rose will also be managing the latter two buildings, along with Oro at 306 Gold Street in Downtown Brooklyn and 80 DeKalb in Fort Greene. The assignments mean Rose will be the leasing agent for more than 500 Brooklyn units.
“Rose hasn’t made the decision to go to Brooklyn specifically,” said Robert Scaglion, senior managing director of residential marketing at Rose. “Our clients are expanding into Brooklyn and have asked us to provide the Rose level of service for developments in Brooklyn.”
Rose has been managing and marketing projects for third parties for about 10 years, something Scaglion said is unique among New York’s “old-line” real estate dynasty families.
In Brooklyn, Rose is looking for projects “of a certain size and a certain substance and a certain level,” Scaglion said, not small buildings. “The developments that we’re involved in are luxury, high-rise doorman properties.” Scaglion said he believes amenities-heavy projects in Williamsburg, for example, can attract Manhattan buyers.
The company is also looking at opportunities in Queens, he said, and is open to projects in New Jersey and Westchester.
The recession has been good for Rose’s business, Scaglion said. “Developers and their lenders are looking for proven, successful name operations,” which makes Rose more popular with developers, he said.
Rose’s buildings have also remained popular with residents through the recession so far, Scaglion said, with an occupancy rate of 97 percent. “There are people that were priced out of better locations and better properties that can [now] trade up into better properties because prices have gone down.”