The soirée was the fifth in the free Brooklyn real estate networking series.
Network with fellow Brooklyn real estate professionals at a holiday-themed Brownstoner Open Houses at Oosten in Williamsburg.
As the latest residential boom in New York has progressed, the luxury developments have spread from the typical confines of Manhattan into more and more neighborhoods of the outer boroughs. One of the neighborhoods of the moment, Williamsburg, has seen a recent dramatic influx of new construction. Recently Field Condition for Brownstoner was given a tour of one of its largest new developments, the Oosten, at 429 Kent Avenue in South Williamsburg.
Brick veneer and window glass are marching up the sides of the Oosten, the international luxury development surrounded on three sides by Hasidic apartment buildings on the waterfront in South Williamsburg. Designed by rising Dutch superstar Piet Boon, developed by Beijing-based Xinyuan Real Estate Co.’s U.S. subsidiary XIN Development, and marketed to overseas Chinese, the building at 429 Kent Avenue occupies the entire block, with a total of 216 units, including 15 townhouses.
Since launching sales 10 months ago, in September, exactly half of the units — 108 — are now in contract or closed, a spokesman for the Oosten let us know when we inquired. Four are townhouses.
The in-land units — the ones with no water views — are furthest along, construction wise, and cluster along South 8th Street and Wythe Avenue. Their views are of neighboring massive brick apartments with the tell-tale stepped balconies for celebrating the harvest festival of Sukkot characteristic of this area.
A Hasidic development under construction next door to The Oosten last year
Reps for the Chinese-developed and Dutch-designed The Oosten in South Williamsburg tell us that 55 of the building’s 216 condos, or nearly 25 percent, are in contract. The luxury development at 429 Kent Avenue released its first 75 units for sale in September, with prices ranging from $710,000 for a one-bedroom to $3,635,000 for four-bedroom, 3.5-bath townhouses.
The units in contract include a townhouse, but no penthouses because they haven’t been listed yet. When we checked in with the construction last month, the complex had risen to three stories. Piet Boon and WASA Studio designed the project, and Xin Development Group is the developer.
The huge eight-building development rising at 431 Kent Avenue in Hasidic Williamsburg has gotten a red brick facade and windows. The complex will have 188 units, 227 underground parking spaces, 81 bike storage spaces, and 48 above ground parking spaces, as we reported in March.
Next door at 429 Kent, the Beijing-based XIN Development is installing the foundation and first floor of The Oosten, a pricey Dutch-designed condo project. In an interesting twist, XIN has agreed to alter certain features of the development out of respect for the Hasidim who will likely live in 431 Kent.
A spokeswoman contacted us with new details about The Oosten, the Chinese developer-owned build at 429 Kent Avenue that will bring 201 condos and 15 townhomes to south Williamsburg. XIN Development Group plans 500,000 square feet of residential space on two acres on Kent between South 8th and South 9th streets, above. The condos and townhouses will range from one to six bedrooms, and the townhouses will have direct access to 15 private garages. There will also be four penthouses with elevator access to four private garages.
Dutch designer Piet Boon is designing all of the interiors, finishes and amenities, which will include jacuzzis in the townhomes and penthouses. The architect of record is WASA/Studio A. The developers will also set aside 10,000 square feet for a nonprofit art gallery. The Oosten’s amenities will include an indoor lap pool, fitness center, sauna and steam rooms, children’s play room, and a rooftop terrace with a reflection pool. Construction began recently and is expected to finish by the end of 2015. The site is currently being excavated, as our photo above shows.
Market Revealed for 421 Kent: Overseas Chinese Investors [Brownstoner]