The 50 North 5th

Location: Williamsburg, Brooklyn

Capitalization: $100M

Size: 250,000 GSF

Units: 229

Status: Completed Fall 2013

Developer: Mack Real Estate Group & Urban Development Partners

Website: www.50north5th.com

 

 

Jesse Wark, in his previous position as VP of Development at Urban Development Partners, managed the design, development and construction of 50 North Fifth Street, a 229-unit luxury rental building located in the heart of Northside Williamsburg.  The project was designed as an "80/20", including 20% affordable housing units to take advantage of both the Inclusionary Housing Program and 421a real estate tax abatement program through NYC’s Housing Preservation and Development agency.  50 North 5th was designed with a full array of amenities, including on-site secured parking, a spacious two level courtyard, bocce courts, a 4,000 square foot roof terrace with outdoor kitchen, pet spa, a multi-level fitness center, basketball court and resident lounge.  The development was completed ahead of schedule and under budget.