UK developer bringing luxury to Greenpoint
Quadrum Global planning 171 units across two towers
The British are coming — to Greenpoint.
London-based Quadrum Global is the latest developer to land in the busy Brooklyn neighborhood, planning two luxury condominium towers on the waterfront at 29 Huron Street, Crain’s reported. The developer is leading efforts to create The Huron, which will span 171 units in a space zoned for 175,000 square feet of development.
Morris Adjmi Architects is designing the development on the site, which Quadrum acquired as a vacant warehouse in 2014 for $45.5 million. Crain’s reported the property was acquired through a 1031 exchange, using proceeds from a sale of the B Ocean Resort in Fort Lauderdale, Florida.
The development is expected to include floorplans ranging from studios to four-bedroom apartments. The buildings will include 20,000 square feet of private outdoor space. There will also be 30,000 square feet of amenities, including an indoor saltwater pool, fitness center, playground and coworking spaces.
Sales are expected to launch this summer, according to Crain’s. Serhant is marketing the condominiums.
Greenpoint has been a hotbed of development activity in recent months.
Lendlease, a Sydney-based global construction, property and infrastructure company, filed plans in August for a 14-story mixed-use building at 1 Java Street. The development is expected to include almost 500 apartments and 12,000 square feet of retail space.
The area is also home to the herculean Greenpoint Landing development. Brookfield Properties last month secured a $330 million refinancing of one of the buildings in the larger development plan. Two Blue Slip includes 421 residences, 30 percent of which are affordable. The entire development is expected to bring 5,500 units to the neighborhood in the coming years, 1,400 of which are expected to be affordable.
Quadrum has developed three Arlo hotels in Manhattan, as well as two Upper West Side residential buildings and a hotel on Long Island City. In 2019, the company moved ahead with plans to build an Arlo hotel in Wynwood, Florida, one year after buying the site for $8.5 million.
[Crain’s] — Holden Walter-Warner