Features

Rendering of The Paxton at 540 Fulton Street

From Future New York The Paxton: Downtown Brooklyn skyscraper set to lease studio - 3-bed luxury rentals

By CityRealty Staff Thursday, May 20, 2021

In recent years, the formerly 9-to-5 Downtown Brooklyn office district has transformed into a vibrant, 24-hour community. Sometimes marketed as DoBro (pardon the portmanteau), the neighborhood boasts a robust residential population, low commercial vacancy rate, and a bustling shopping corridor. Recent years have brought a building boom ushering in new hotels, offices, and residential buildings.

The transformation of the area is well encapsulated at The Paxton a 44-story mixed-use tower at 540 Fulton Street that combines eight floors of office and retail with 327 rental units above. Developed by Jenel Real Estate, the 530-foot-high tower has stolen the title of the borough's seventh-tallest building from nearby One Hanson Place, which held that distinction for 80 years. The striking facade designed by Marvel Architects is nearing completion, and a registration site has launched for the studio through three-bedroom apartments with MNS handling the leasing.

The Paxton sports a mundane design of glass and window-less lot-line walls unworthy of its great location (May 2021)

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The apartments will span floors nine through 43 and feature massive windows to make the most of panoramic skyline and harbor views. Residential amenities will include a common lounge, a resident business center, package and laundry rooms, parking for 11 bicycles, a ninth-floor gym, and a roof deck. The Downtown Brooklyn Partnership reports that 96 units will be affordable, but further details are not yet available. According to CityRealty listings, the median rent of a market-rate apartment in Downtown Brooklyn is $3,117/month.

Exterior renderings (Credit of Jenel Real Estate)

The Paxton Offices, a 137,00-square-foot component, will have an address of 532 Fulton Street. The office floors will span from approximately 9,700 to 13,400 square feet. They will boast 16- to 20-foot-high ceilings, communal terraces, and floor-to-ceiling windows. Renderings show a canopied entryway, a stone-clad lobby decorated with abstract art, and lively common spaces.

Both residents and office workers are well situated to easily enjoy performances at the Brooklyn Academy of Music, concerts and sporting events at the Barclays Center, and peaceful strolls in Fort Greene Park. City Point, Fulton Mall, and Atlantic Terminal Mall provide endless shopping a short walk away.

A few blocks down the street, construction is set to start on the first phase of 80 Flatbush. The 44-story, 480-foot-high tower was originally expected to contain new schools, office space, and market-rate apartments. However, after the coronavirus pandemic impacted both the construction timeline and the demand for office space, developer Alloy Development changed their plans, swapping out 100,000 square feet of office space for housing, increasing the total number of units from 257 to 441. About ten percent, or 45, of the units will be affordable.

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Local Listings

↓ Brooklyn Point, 138 Willoughby Street, #46J – $1,220,000

Condo | 1 bed, 1 bath | 768 ft²

Brooklyn Point via Extell

From the listing:
A pristine residence nestled in the prestigious Brooklyn Point development, this stunning 1-bedroom, 1-bathroom home is a portrait of contemporary Brooklyn living. Features of this 768-square-foot home include beautiful wide plank stained oak floors, floor-to-ceiling windows with southern exposure and panoramic views of Brooklyn, an in-home washer/dryer, and a harmonious light wood color palette with brushed nickel fixtures and finishes designed to accentuate space and natural light. A welcoming foyer adorned with a walk-in coat closet flows into a spacious open-concept living room, dining room, and kitchen saturated with natural light. See full details here.

↓ 11 Hoyt, 11 Hoyt Street, #30D – $1,825,000

Condo | 2 beds, 2 baths

All images of 11 Hoyt via Binyan Studios

From the listing:
This corner two bedroom, two bathroom residences offers open views to the north and west over the Brooklyn cityscape, with 10' lofty ceilings and bay window seats in the living room and in the second bedroom - a perfect place for reading and relaxing. The classic palette offers a bright, fresh, contemporary feel with pale white oak floors, Italian custom cabinets in white satin-lacquer with patinated zinc accents and honed Italian lava stone countertops and backsplash enhancing the art and beauty of your culinary experience. The open chef's kitchen comes fully equipped with a premium Bosch appliance package which includes a refrigerator, dishwasher, and gas cooktop with an exterior venting exhaust fan. See full details here.

↓ The Brooklyn Grove, 10 Nevins Street, #14A – $885,000

Condo | 1 bed, 1 bath | 715 ft²

All images of The Brooklyn Grove via Halstead

From the listing:
This bright and comfortable one bedroom offers an open kitchen and views to the west overlooking exciting Downtown Brooklyn. With interiors designed by ODA New York, The Brooklyn Grove features a subtle mingling of organic materials and lush textures. Each room offers unexpected touches and welcome surprises including wide plank oak flooring throughout. In the kitchen, custom rift oak cabinetry strikes a distinct contrast against the concrete-hued Caesarstone countertop, Taj Mahal stone backsplash, and antique brass hardware. Sponsor now offering 2 years of real estate taxes as a closing credit on all contracts signed by May 31, 2021. See full details here.

↓ The Ashland, 250 Ashland Place, #25K – $3,579/month

Rental | 1 bed, 1 bath

The Ashland via Gotham Organization

From the listing:
The Ashland is a full service residential building offering an inspiring amenity package, exemplary service, and unrivaled access to Brooklyn’s Cultural District and diverse Fort Greene. Designed by SPAN Architects, the building features studios to 3 bedroom homes, beautifully appointed with modern design and custom elements: stainless steel appliances, oak plank wood floors, central air, and floor-to-ceiling windows offering spectacular views of Manhattan, Governor’s Island, Brooklyn, Queens and the water. Full service amenities include the state-of-the-art fitness studio and an outdoor fitness area, outdoor movie screening area, demo kitchen, barbecue area, and billiard room. The view from the 53rd floor roof deck and resident lounge will take your breath away. See full details here.

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Features

↓ Brooklyn Point, 138 Willoughby Street, #46J – $1,220,000

↓ 11 Hoyt, 11 Hoyt Street, #30D – $1,825,000

↓ The Brooklyn Grove, 10 Nevins Street, #14A – $885,000

↓ The Ashland, 250 Ashland Place, #25K – $3,579/month

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