Reza Merchant Reza Merchant, CEOof The Collective

NEW YORK CITY–The Collective is a multifamily developer workingto differentiate itself as focused on creating communities in itsapartments with its spaces, amenities and programming. TheLondon-based company is creating a $450 million, 350,000square-foot, purpose-built residential complex in a neighborhoodthat borders Williamsburg and Bushwick in Brooklyn. The Collectiveacquired the property in early October from Blesso Properties andPark-It Management for $54.25 million and intends to establish itsflagship US location at the site.

The project, located at 555 Broadway with the alternate addressof 277 Lorimer, is expected to open in 2020. The site includes250,982 square feet of market-rate residential development rightsand a total development capacity of approximately 328,594 squarefeet. It also has 725 feet of combined frontage on Broadway,Lorimer Street and Boerum Street.

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Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.