The Ensemble: Market Permitting, LEED Silver Brownstones in Boerum Hill

These lavish high-end brownstones in Boerum Hill could provide an important test for the market in terms of construction financing for luxury green residential development in New York City.

Ensemble Boerum Hill

Designed by Samy Brahimy with interiors by Durukan Design, The Ensemble is a set of six planned brownstones that could break ground this fall. Developer Strategic Development and its partner IBEC Building Corporation plan to pursue a LEED Silver rating for the project, which contemplates six single-family brownstones at 354-349 State Street between Hoyt and Bond Streets in Boerum Hill. Each 5000-square-foot brownstone will range in price from $3.5 to $4 million, and purchasers will have the option of choosing a modern or traditional design aesthetic.

The developers, however, have hired Corcoran Sunshine to first test the market’s appetite for what they described to the Real Deal as “lavish homes for a particular market segment.” The Ensemble could therefore be an interesting litmus test both for the strength of the local new construction market, but also for whether lenders may be more inclined to extend construction loans to developers who are marketing their projects around sustainable design.

It’s unclear what specific green features might be included in the project’s LEED Silver application, but units will incorporate green materials and energy efficient appliances throughout. Total construction costs for the project will be in the vicinity of $30 million; each four-story home will offer elevators, private terraces, and backyard space.

about gbNYC

gbNYC is a multi-disciplinary consulting and real estate services firm. In addition to representing office tenants and commercial buyers in leasing and acquisitions, we also provide innovative consulting solutions from a unique, green building perspective. We advise on green building financial incentives, comment on proposed green building marketing strategies, author white papers, treatises, and market analyses, organize seminars on the LEED process and professional accreditation, and provide advice and analysis on green building risk management and the overall state of green real estate, leasing, and construction, in New York City and beyond.

Our blog, the gbNYC+ journal of real estate, law, + sustainability, delivers consistent, original content - from a New York City perspective - on how technology, data, and sustainability are changing how we interact with our built environment. Subscribe below and receive new articles as they're published or connect with our social media presence to join our ongoing conversation about real estate and sustainability, in the Big Apple and beyond. Contact us at (201) 835-8530 or info@gbNYC.com for more information about our services and to discuss how we can assist you.

, , , , , ,

No comments yet.