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Site of Former Karl Fischer Project Will Be Luxury Rentals

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Back before the credit crisis, the one and only Karl Fischer had plans for 316 Bergen Street, but it was not to be. The three adjacent sites in Boerum Hill hit the market last fall for $7 million, with approved plans for a 43-unit residential development. The property is about to enter its second act, now that The Naftali Group and AEW Capital Management have closed on the site for around $6.7 million. They will build an 85-unit luxury rental building on the site, Crain's reports, with to start marketing the units in summer 2013. The building will include health club, storage, courtyard, and roof deck with cabanas, according to building reps. The same developer has a 104-unit project going up at 267 Sixth Street, but there's nothing like a little healthy competition (with oneself) to liven things up.
· 85-unit apartment building slated for Brooklyn [Crain's]
· 316 Bergen Street [Curbed]