125 3rd Avenue / 10 St. Marks Place
Location: Boerum Hill, Brooklyn
Size: 25,000 GSF
Avery Hall Investments, in partnership with a family office, acquired an under-utilized prime corner development site, in Boerum Hill. Avery Hall recognized an opportunity to blend down its basis, and was able to structure a complicated air rights acquisition from a neighboring underbuilt property. The assemblage can accommodate an 8-story, approximately 25,000 GSF, mixed-use boutique development with 20 apartments and retail at grade. The site is a short walk from the Barclays Center, the Brooklyn Academy of Music and the transportation hub at Atlantic Terminal.