Mann Report Residential features the topping out of City Tower, focusing on the property as a significant residential component of the upcoming City Point development.
The Brodsky Org., (www.brodskyorg.com) one of New York City's premier developers, owners, and managers of residential and commercial space, has topped out City Tower, the market-rate residential component of the upcoming City Point development in the downtown area. The COOKFOX-designed 48-story rental tower, which sits atop the retail component of the development, will add 440 homes to the forthcoming mixed-use site.
City Tower represents The Brodsky Org.'s first venture into the borough's marketplace, expanding the company's diverse portfolio of over 80 properties to the emerging downtown neighborhood.
"This project... presented us with the perfect opportunity to introduce the Brooklyn market to [Brodsky's] longstanding expertise."
"The Brodsky Org. has always been interested in the right opportunity to develop property in Brooklyn," said Thomas Brodsky, a principal at The Brodsky Org. "The caliber of the team behind this project and the location of the site presented us with the perfect opportunity to introduce the Brooklyn market to our firm's longstanding expertise in developing and managing high-end residential properties."
The tower will present residents with the sought-after combination of convenience, through close proximity to key retailers and mass transit options, with the benefits of a high-rise full-service lifestyle,that includes a wide-ranging selection of services and amenities exclusive to residents. The property's mix of studio, one and two-bedroom apartments are designed for optimal space and functionality to provide residents with flexible living spaces. The completion of construction at City Tower is slated for late this year.
City Tower is a component of the mixed-use project City Point, being developed in partnership with Washington Square Partners and Acadia Realty Trust. The entire project will bring 1.8 million s/f of retail, commercial and luxury residential to the neighborhood.
With prominent anchor tenants including Century 21 Department Store, CityTarget, and Alamo Drafthouse Cinema, as well as close proximity to the Flatbush Ave. and Fulton St. thoroughfares, the development is projected to be one of the most in-demand destinations in the borough.