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To compete for and cater to residents in what is one of Brooklyn's most expensive submarkets, new and existing retailers are innovating their offerings outside of their traditional lane.
The parcel, also known as the western portion of Block A, encompasses approximately 2.18 acres, with base development capacity of nearly 1,100 residential units and 1.7 million square feet.
The purchase of 217-unit building marks Pacific Urban's third multifamily purchase in the Northeast since the firm established a regional office in New York late last year.
Tech tenants are increasingly drawn to buildings that provide tenant lounges, fitness centers and other wellness initiatives/programs such as sit/stand desks, and of course, walkability to restaurants is a must.