Society Brooklyn, a two-tower, 21-story mixed-use apartment property, has opened in Brooklyn’s Gowanus neighborhood in the latest sign of the transformation of a primarily industrial area.
Spanning over 594,000 square feet, the development features 517 residential units and 57,000 square feet of “high-exposure” retail space, developer PMG said Thursday in a statement, adding that a quarter of the apartments are designated as affordable.
Designed by SLCE Architects and constructed by Urban Atelier Group, Society Brooklyn includes 344 units with studio- to two-bedroom units at 500 Degraw St. and a 173-unit tower offering one- to three-bedroom residences at 504 Sackett St., PMG said. The firm focuses on large-scale mixed-use residential projects nationwide.
Amenities at the property include gyms, outdoor swimming pools and sun decks, and a rooftop terrace offering views of the Gowanus Canal.
Since the neighborhood was rezoned in 2021 to allow mixed-use residential development, the area has attracted investors even as high interest rates and macroeconomic concerns have seized up lending activity. 420 Carroll St., a property billed as the first developed after the rezoning, began leasing last year.
A joint venture of Charney Cos., the development and management firm founded by Sam Charney in 2013, and Tavros Capital, a privately owned New York-based investment management and development firm, recently secured $174.5 million of financing and equity for the acquisition and pre-development of a residential property at 175 Third St. When completed, the property is expected to span about 1 million square feet and become the largest building in Gowanus, JLL said.
The 2021 rezoning covered an 80-block area on 14 acres of land and is the largest city-led rezoning in New York’s history, PMG said.
For the record
MNS Real Estate is handling residential leasing for Society Brooklyn. Cushman & Wakefield is leading the commercial leasing efforts.