Boerum Hill

Boerum Hill construction update: The Hilton Brooklyn New York/The Boerum

Eye On Real Estate

October 19, 2016 By Lore Croghan Brooklyn Daily Eagle
This rendering shows what The Boerum (the building at right) will look like when construction is completed. Rendering by MARCH
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It’s a hotel with condos on top.

Travelers think of it as the Hilton Brooklyn New York, whose address is 140 Schermerhorn St. Luxury-apartment buyers think of it as The Boerum, which uses 265 State St. as its address.

The 196-room hotel will occupy the first six floors of the Boerum Hill building that the Carlyle Group and Flank, a development firm, are constructing. And 128 condos will be situated on the upper floors of  the 20-story property.

Hilton’s website is accepting reservations for Jan. 15, 2017 and thereafter for this new Brooklyn inn.

According to the New York Observer, the developers put the hotel portion of the property up for sale last spring. It either hasn’t sold, or the transaction hasn’t yet been recorded in Finance Department records.

Corcoran Sunshine Marketing Group is handling The Boerum’s condo sales. According to StreetEasy.com, asking prices for units in contract range from $4.25 million apiece for two five-bedroom apartments to $810,000 for a one-bedroom apartment.

After more than two years of work at the site, the building’s red-brick exterior has shaped up nicely.

The development site, which also has frontage on Smith Street, had been a parking lot before development began. Carlyle Group and Flank purchased it for $38.5 million in 2012, Finance Department records show.

 


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