429 Kent Avenue,
Brooklyn, NY

The Oosten is an 8-story structure occupying an entire 94,735 SF block bounded by Kent Avenue, South 9th Street, Wythe Avenue and South 8th Street in the Williamsburg section of Brooklyn. The site was formerly Lot 35, shown on the digital tax map of the New York City Department of Finance (DOF) as having 274.41 feet of frontage along Kent Avenue, 373.81 feet on South 8th Street, 270 fronting on Wythe Avenue, and 325.83 feet fronting on South 9th Street.

Designed by architect Piet Boon, the building has a glass façade with gunmetal-framed floor-to-ceiling windows while the residences feature 10-foot ceilings, wide plank white oak floors and in-unit washer/dryers. There are Viking and Smeg appliances with custom millwork and natural stone. Amenities consist of two lobbies; full-time doorman/concierge; library; indoor swimming pool; children’s playroom with a bouncy-house; landscaped central courtyard; lounge; fitness center/yoga room with a spa and juice bar; and a landscaped rooftop featuring city, river, and bridge views, a reflecting pool, lounge seating and a professional chef’s grill.

The subject consists of the remaining sponsor-held inventory within the 216-unit luxury condo building known as the Oosten. The appraised premises includes 21 residential condo units with an aggregate net saleable area of 54,839 SF as well as 68 parking spaces. The subject’s unit mix consists of two (2) one-bedrooms, four (4) two-bedrooms, twelve (12) three-bedrooms, two (2) four-bedroom townhouses, and one (1) six-bedroom penthouse. The three-bedrooms are all unique in that four are duplexes, two are townhouses while the other six are loft-style units. The four townhouse units all have unique floorplans as well, and they each contain a private garage in the cellar in addition to a private garden with an outdoor jacuzzi.

Collateral Snapshot

Note: The collateral is:

• 21 residential condo units, totaling ~54,839 NSF plus 68 parking spaces
• The unit mix consists of 2 one-bedrooms, 4 two-bedrooms, 12 three-bedrooms, 2 four-bedroom townhouses, and 1 six-bedroom penthouse.
• Four of the three-bedroom units are duplexes, two are townhouses while the other six are loft-style units.
• The 4 townhouse units contain private underground garages and private gardens with
  outdoor jacuzzis

Property Snapshot

• 8-story luxury condo building designed by celebrated Dutch architect Piet Boon containing a mix of one- to six-bedroom apartments with floor-to-ceiling windows
• Occuping a full city block in vibrant South Williamsburg, steps away from the ferry terminal at Schaefer Landing
• Amenities include an indoor swimming pool, a children’s playroom, a 13,000+ SF green courtyard
• Surrounded by some of Williamsburg’s best restaurants and nightlife including Diner, Marlow and Sons, Barano, Sunday in Brooklyn