Rendering of 340 Evergreen Avenue via Studio Bice
On a quiet street in Bushwick, a full-block complex helmed by Bushwick Realty Holdings is slowly coming to fruition. Three six-story buildings at 869 - 871 Bushwick Avenue were completed and triple net leased to a non-profit in 2015. A 56-unit building at 889 Bushwick is expected to receive a temporary certificate of occupancy soon. And most recently, a five-story, 177-unit project at 340 Evergreen Avenue is well underway.
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According to designer Studio Bice, 340 Evergreen Avenue will be made of reinforced concrete with a thermally efficient building envelope; while not quite up to Passive House standards, this will still be beneficial from an environmental and financial point of view. Plans indicate that building amenities will include a roof deck, laundry room, bike parking, and 112 parking places.
Rents are not yet available, but GlobeSt notes that the property will benefit from a 70% market rate and 30% affordable housing tax abatement program. According to CityRealty listings, the median Bushwick rent is $1,950/month for studios, $2,291/month for one-bedrooms, and $2,438/month for two bedrooms. See more listings here.
Google Streetview of 340 Evergreen Avenue
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Michelle Mazzarella
Michelle is a contributing writer and editor for real estate news in New York City
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