499 President Street will feature 350 luxury multi-housing units and 20,000 square feet of retail in Gowanus, Brooklyn
07 June 2023
News release
07 June 2023
JLL closes the $80M land recapitalization and vertical equity capitalization for mixed-use development in Brooklyn
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Authors
Kristen Murphy
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About The Brodsky Organization
The Brodsky Organization is one of Manhattan's most established developers, owners, and managers of residential and commercial spaces in New York City. The Brodsky Organization's relationship with its residents is the foundation of its success. Every element of building life is supported by a dedicated and attentive management team. The Brodsky Organization offers intelligently designed apartments with exceptional views, which are in some of the most desirable neighborhoods in Manhattan and Brooklyn. The company has developed over 10,000 apartments in more than 85 rental, condominium, and co-op buildings. The portfolio ranges from charming brownstones, to renovated pre-war doorman buildings, to newly constructed high-rises with extensive building amenities. The neighborhoods span from West and Greenwich Village to Chelsea, Midtown West to Morningside Heights, and Midtown East to Carnegie Hill and Downtown Brooklyn.
About Battery Global Advisors
Battery Global Advisors provides customized wealth management solutions within an institutional family office framework. Between the families they advise and the private funds they offer, BGA manages over $4 billion of assets for sophisticated investors around the world. BGA invests opportunistically in real estate and has deployed over $340M of equity capital in Opportunity Zone projects and currently has over $685M in equity capital invested across a diversified portfolio of real estate projects.
About Avery Hall Investments
Avery Hall Investments is a real estate investment firm specializing in the acquisition, design and development of unique assets primed for growth and value creation. The firm is actively developing, planning and operating more than 2,000 apartments in Brooklyn, NY, Charlotte, NC, and Richmond, VA., including 680 apartments in Brooklyn’s Gowanus neighborhood, where the company is based. Avery Hall is committed to creating projects that enhance the quality of life in the communities in which it invests, with a focus on long-term value growth.