At right, the Lower East Side's famed Avalon Chrystie, the luxury rental building home to the new Whole Foods. Do you love it, Fort Greene? Don't you want one of your very own? Oh, it's coming, and it's gigantic. Surprising no one, AvalonBay has announced that its $70 million Brooklyn land purchase of an area bounded by Myrtle Avenue, Gold and Prince Streets will become a massive development with 600 market-rate rentals and ground-floor retail.
As the Brooklyn Paper helpfully points out, that's "more than three times the number of units in the iconic Williamsburgh Savings Bank building, the tallest building in Brooklyn." There's no renderings yet, but a spokesman for Avalon Bay said it will be similar to Avalon Chrystie, except at 42 floors. Good lord that's huge. Construction is expected to be completed in March 2009. AvalonBay is also hard at work on their Long Island City project in Queens, meaning the Bronx and Staten Island better watch out. They're coming.
· Tall tower, high rents [Brooklyn Paper]