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Mapping the Changes That Boaz Gilad Is Bringing to Brooklyn

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"People are dying to buy in Brooklyn," Brookland Capital co-founder Boaz Gilad told us recently at the company's offices in Bed-Stuy. "The reason there is so much noise around us is because we are the only one with product out there, not because I'm some brilliant guy, but because I am stubborn. I keep doing what I know." Like a lot of real estate developers, Gilad had been hit hard during the financial crisis in 2008. But unlike many others, he immediately jumped back in. "I came out of the crisis bruised, but not crushed," he says. Now, along with new partner Assaf Fitoussi, he boasts 40 employees and has more than 40 projects, mostly condos, all in Brooklyn, in "the pipeline." ("Pipeline," Gilad explains, "means [anything from] we have one more unit to sell, or we purchased it, we're working plans and we're going to develop it.") Those 40 or so will join a similar number of new buildings that Brookland has completed and sold in recent years.

"We always joke that Assaf and I have a Google Map [of Brooklyn] in our heads," Gilad says. "You bring me a deal and you say Lexington Avenue and blah blah, and I say, oh yeah, between the red door and whatever." This intimate Brooklyn knowledge is what has allowed him to change the borough's housing landscape, establishing an ever-more-noticeable presence one small building at a time. "We rarely, rarely buy through brokers," he explains. "We're very connected to the community. There's a reason why we chose to do the office on Malcolm X [Boulevard]. We're not some Midtown Manhattan company that says, oh, Brooklyn is cool now. We don't have huge towers in Williamsburg. I've been living in Brooklyn for 18 years, so we want to send a message we are a part of this community. Part of the changes, but also part of the community."

Gilad's deal-hunting practices have won him success, but the design of many of his projects has earned criticism (including—ahemfrom us). On this front, he's self-effacing. "We spend a lot of time and efforts on the design," he says. "Now, there are projects in the past that I am not proud of. We are very conscious of it and sometimes we fail. [But] ask Picasso if he loves all the paintings he painted and he will tell you, some of them I did very well, and some of them I didn't." Some elements of the design are dictated by the surrounding area. But, in the case of the new buildings that have been called out as non-contextual, that's not always a concern. "If the block is beautiful, we communicate with the block," Gilad says. "If the block is ordinary or even ugly, I won't communicate with the block."

Ultimately, though, the condos are selling, and selling fast. A recent open house at 875 Saint Marks Avenue drew 168 prospective buyers. "Even if you don't think it looks good, and even if I don't think it looks good, the bottom line is people are buying it and they are happy," Gilad says. "I look at a building and think, would I like to live here? Am I proud of the product? And in most cases I am."


· Brookland Captial [official]
· Boaz Gilad coverage [Curbed]
· Return to the Fray [NYT]

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850 Metropolitan Avenue

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Purchased: February 2014, for just under $10M
Planned: 36-unit condo building
Notes: Former condensed milk factory

156 Broadway

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Purchased: October 2012, $2.65M
Planned: Eight-unit condo building
Notes: Hundred-year-old former cabinet factory, about to open for sales.

322 Menahan Street

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Purchased: July 2014, for $2.35M
Planned: 24-unit condo building
Notes: Boaz told the Times that it would be a "Bauhaus-style ... development."

328 Central Avenue

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Purchased: February 2014, for $435,000
Planned: Four-story, eight-unit building

13 Melrose Street

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Purchased: March 2013, for $320,000
Planned: Eight-unit condo building
Notes: Five of the apartments went in the first week of sales. The remaining three are priced between $389,000 and $733,000.

223 Pulaski Street

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Purchased: December 2013, for $440,000
Planned: Four-story, eight-unit building

664 Jefferson Avenue

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Purchased: January 2014, for $600,000
Planned: Four-story, seven-unit building

447 Decatur Street

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Purchased: January 2014, for $995,000
Planned: Four-story, six-unit building
Notes: Designed by Arc Architecture + Design Studio

443 Bainbridge Street

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Purchased: January 2014, $450,000
Planned: Four-story, six-unit building

686 MacDonough Street

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Purchased: May 2014, for $361,250
Planned: Four-story, six-unit building

729 Decatur Street

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Purchased: March 2014, for $361,250
Planned: Four-story, six-unit building

1094 Madison Street

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Purchased: October 2014, $370,000
Planned: Four-story, eight-unit building

1255 Bushwick Avenue

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Purchased: July 2013, $1.95 million
Planned: Seven-story, 32-unit building
Notes: The church conversion will, mercifully, not actually employ the Isaac & Stern design pictured above

116 Covert Street

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Purchased: February 2014, $600,000
Planned: Not filed yet

189 Cooper Street

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Purchased: August 2014, for $1.145M
Planned: Six-story, 13-unit building
Notes: Designed by Feingold & Gregory Architects

303 Cooper Street

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Purchased: n/a
Planned: Four-story, seven-unit building

691 Marcy Avenue

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Purchased: February 2014, for $4.5M
Planned: Eight-story, 41-unit condo buildingNotes: Franklyn Estrella Architects

875 Saint Marks Avenue

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Purchased: March 2013, for $1.4M
Planned: Conversion of existing four-story building into condos
Notes: Launched sales back in May, almost sold out

991 Eastern Parkway

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Purchased: July 2013, for $2.1M
Planned: The other infamous Isaac & Stern church conversion; sevenstories, 17 units

1238 Lincoln Place

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Purchased: n/a
Planned: Four-story, 10-unit building by Issac and Stern. It will have 6,801 square feet of apartments with a rooftop deck.

1312 Lincoln Place

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Purchased: May 2014, for $2.06M
Planned: n/a

56 East 21st Street

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Purchased: April 2014, for $900,000
Planned: Seven-story, 17-unit building, which will replace a freestanding home.

807 Washington Avenue

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Brookland paid $1.75 million for this two-story brick townhouse back in January, and is converting the property into a seven-story, seven-unit building designed by Isaac & Stern.

954 Bergen Street

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Purchased: November 2012, for $1.35M
Planned: Six-story, 36-unit building

1192 Bedford Avenue

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Purchased: August 2012, for $1.23M
Planned: A now-completed six-unit building, which sold out less than two months after launching sales

186 Putnam Avenue

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Purchased: August 2012, for $1.23M
Planned: Five-story, 14-unit building with commercial component

260-268 Greene Avenue

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The Copper Houses, a series of three-story townhouses (unusual for Gilad and co.) hit the market in March starting at $899,000.

357 Prospect Place

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Purchased: n/a
Planned: Five-story, seven-unit building

929 Atlantic Avenue

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Purchased: n/a
Planned: Eight-story, 20-unit building
Notes: Feingold & Gregory Architects

658 Washington Avenue

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Purchased: September 2013, for $950,000
Planned: Conversion of three-story house into four-story, five-unit building

735-739 Bergen Street

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Purchased: September 2013, for $3.135M
Planned: A four-story, semi-dystopian-looking building

708 Degraw Street

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This four-story, three-unit building launched sales in May, with units starting at $1.35 million.

531-533 Vanderbilt Avenue

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Purchased: n/a
Planned: Seven-story, 18-unit condo building, which just launched sales.

207 Wyckoff Street

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Purchased: January 2014, for $1.325M
Planned: This formerly abandoned building was literally falling down before Brookland began to convert it into a four-story, three-unit building

550-554 Fourth Avenue

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Brookland Capital purchased this site in August for $7.4M, and the developer plans to build a 13-story, 45-unit building with retail at street level. The site encompasses five tax lots, including 138-140 15th Street.

98 16th Street

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Purchased: June 2014, for $780,000
Planned: Plans have been filed to demolish the existing building and replace it with a three-story, three-unit building.

469 Union Street

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Purchased: n/a
Planned: Permits show an application for a four-story building with only one dwelling unit, so this will clearly be a single-family townhouse.

304 6th Avenue

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There are no new permits for this site, but since it's currently occupied by a church, it would appear that Brookland is planning another conversion.

467 Chauncey Street

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No info

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850 Metropolitan Avenue

Purchased: February 2014, for just under $10M
Planned: 36-unit condo building
Notes: Former condensed milk factory

156 Broadway

Purchased: October 2012, $2.65M
Planned: Eight-unit condo building
Notes: Hundred-year-old former cabinet factory, about to open for sales.

322 Menahan Street

Purchased: July 2014, for $2.35M
Planned: 24-unit condo building
Notes: Boaz told the Times that it would be a "Bauhaus-style ... development."

328 Central Avenue

Purchased: February 2014, for $435,000
Planned: Four-story, eight-unit building

13 Melrose Street

Purchased: March 2013, for $320,000
Planned: Eight-unit condo building
Notes: Five of the apartments went in the first week of sales. The remaining three are priced between $389,000 and $733,000.

223 Pulaski Street

Purchased: December 2013, for $440,000
Planned: Four-story, eight-unit building

664 Jefferson Avenue

Purchased: January 2014, for $600,000
Planned: Four-story, seven-unit building

447 Decatur Street

Purchased: January 2014, for $995,000
Planned: Four-story, six-unit building
Notes: Designed by Arc Architecture + Design Studio

443 Bainbridge Street

Purchased: January 2014, $450,000
Planned: Four-story, six-unit building

686 MacDonough Street

Purchased: May 2014, for $361,250
Planned: Four-story, six-unit building

729 Decatur Street

Purchased: March 2014, for $361,250
Planned: Four-story, six-unit building

1094 Madison Street

Purchased: October 2014, $370,000
Planned: Four-story, eight-unit building

1255 Bushwick Avenue

Purchased: July 2013, $1.95 million
Planned: Seven-story, 32-unit building
Notes: The church conversion will, mercifully, not actually employ the Isaac & Stern design pictured above

116 Covert Street

Purchased: February 2014, $600,000
Planned: Not filed yet

189 Cooper Street

Purchased: August 2014, for $1.145M
Planned: Six-story, 13-unit building
Notes: Designed by Feingold & Gregory Architects

303 Cooper Street

Purchased: n/a
Planned: Four-story, seven-unit building

691 Marcy Avenue

Purchased: February 2014, for $4.5M
Planned: Eight-story, 41-unit condo buildingNotes: Franklyn Estrella Architects

875 Saint Marks Avenue

Purchased: March 2013, for $1.4M
Planned: Conversion of existing four-story building into condos
Notes: Launched sales back in May, almost sold out

991 Eastern Parkway

Purchased: July 2013, for $2.1M
Planned: The other infamous Isaac & Stern church conversion; sevenstories, 17 units

1238 Lincoln Place

Purchased: n/a
Planned: Four-story, 10-unit building by Issac and Stern. It will have 6,801 square feet of apartments with a rooftop deck.

1312 Lincoln Place

Purchased: May 2014, for $2.06M
Planned: n/a

56 East 21st Street

Purchased: April 2014, for $900,000
Planned: Seven-story, 17-unit building, which will replace a freestanding home.

807 Washington Avenue

Brookland paid $1.75 million for this two-story brick townhouse back in January, and is converting the property into a seven-story, seven-unit building designed by Isaac & Stern.

954 Bergen Street

Purchased: November 2012, for $1.35M
Planned: Six-story, 36-unit building

1192 Bedford Avenue

Purchased: August 2012, for $1.23M
Planned: A now-completed six-unit building, which sold out less than two months after launching sales

186 Putnam Avenue

Purchased: August 2012, for $1.23M
Planned: Five-story, 14-unit building with commercial component

260-268 Greene Avenue

The Copper Houses, a series of three-story townhouses (unusual for Gilad and co.) hit the market in March starting at $899,000.

357 Prospect Place

Purchased: n/a
Planned: Five-story, seven-unit building

929 Atlantic Avenue

Purchased: n/a
Planned: Eight-story, 20-unit building
Notes: Feingold & Gregory Architects

658 Washington Avenue

Purchased: September 2013, for $950,000
Planned: Conversion of three-story house into four-story, five-unit building

735-739 Bergen Street

Purchased: September 2013, for $3.135M
Planned: A four-story, semi-dystopian-looking building

708 Degraw Street

This four-story, three-unit building launched sales in May, with units starting at $1.35 million.

531-533 Vanderbilt Avenue

Purchased: n/a
Planned: Seven-story, 18-unit condo building, which just launched sales.

207 Wyckoff Street

Purchased: January 2014, for $1.325M
Planned: This formerly abandoned building was literally falling down before Brookland began to convert it into a four-story, three-unit building

550-554 Fourth Avenue

Brookland Capital purchased this site in August for $7.4M, and the developer plans to build a 13-story, 45-unit building with retail at street level. The site encompasses five tax lots, including 138-140 15th Street.

98 16th Street

Purchased: June 2014, for $780,000
Planned: Plans have been filed to demolish the existing building and replace it with a three-story, three-unit building.

469 Union Street

Purchased: n/a
Planned: Permits show an application for a four-story building with only one dwelling unit, so this will clearly be a single-family townhouse.

304 6th Avenue

There are no new permits for this site, but since it's currently occupied by a church, it would appear that Brookland is planning another conversion.

467 Chauncey Street

No info