• 34 Berry

    Williamsburg – Brooklyn, NY
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    PROPERTY OVERVIEW:
    34 Berry is a 7-story, 142-unit luxury rental building situated in the thriving Williamsburg section of Brooklyn, NY, one subway stop from Manhattan. Constructed with a modern brick and glass façade, the building overlooks McCarren Park and includes a mix of studio, one- and two-bedroom residences. The apartments feature kitchens with stainless steel appliances and Italian cabinetry, full size washer/dryers, abundant closets and ample storage space. Many units have private patios or wraparound terraces - some with Manhattan skyline views. Building amenities include an attended lobby, business center, lobby lounge, landscaped outdoor garden, rooftop media lounge adjoining an outdoor entertainment deck, fitness center, bicycle storage and an on-site parking garage.

    LCOR'S ROLE:
    After purchasing the plans and development rights from a condominium developer in 2007, LCOR instituted an interior redesign of the units to better respond to market conditions, developed the property from the ground-up, and executed a leasing and marketing strategy that resulted in 100% occupancy in under seven months.

    VALUE CREATED:
    As Williamsburg continued to rise and flourish among the young artistic community, we recognized the opportunity for growth. 34 Berry was introduced to the market in the spring of 2010 when rentals were experiencing above average vacancy rates and competition from the condo-turned-rental market was intense. However, given the prime location, attention to design detail, and aggressive marketing and management campaign, the property quickly achieved full occupancy at pro-forma rents.