News:
Spotlight Content
Posted: August 27, 2024
Developing Brooklyn: 1 Java Street
Brooklyn, NY Developed by Lendlease, 1 Java St. is a sustainable, urban regeneration development along the Greenpoint waterfront. Scheduled for completion in early 2026, the project will comprise 834 rental units, 30% of which have been designated as affordable housing under the Affordable New York Housing Program. Designed by Marvel, 1 Java St. will be comprised of five interconnected buildings, including a 37-story and a 20-story tower. The property will feature nearly 13,000 s/f of retail space, as well as an 18,000 s/f public waterfront esplanade connecting to the India Street Pier, which is served by the East River Ferry. The all-electric property will utilize a vertical closed-loop geothermal system, making it the largest geothermal residential development in New York State. The geothermal system will provide all the space heating, water heating and cooling for the project. In addition, 1 Java St. will be fully electric, with all cooking, clothes drying and other functions performed by electric appliances and building systems. Targeting LEED Gold certification and designed to meet or exceed Local Law 154, New York City’s legislation that mandates new construction to be all-electric, and Local Law 97, New York City’s decarbonization legislation, 1 Java St. aligns with Mission Zero, Lendlease’s industry-leading initiative to reach absolute zero carbon by 2040.
Project Team
General Contractor Lendlease
Executive & Design Architect Marvel
Landscape Architect James Corner Field Operations
Interior Design, Lobby & Amenities INC
Interior Design, Townhouses Crème
Interior Design, Units Marvel
MEP Engineer ARUP
Poject Info
Project Title 1 Java Street
Project Location 1 Java Street
Property Type Multi-Housing, Clean Energy
Project Type New
Total Square Footage 788,929 s/f
Year Started 2022
Estimated Completion Date Early 2026
Tags:
Spotlight Content
MORE FROM Spotlight Content
Over half of Long Island towns vote to exceed the tax cap - Here’s how owners can respond - by Brad and Sean Cronin
When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
.png)
Quick Hits
.jpg)
Columns and Thought Leadership
The strategy of co-op busting in commercial real estate - by Robert Khodadadian
In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
How much power does the NYC mayor really have over real estate policy? - by Ron Cohen
The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:
Formal Legislative Role
• Limited direct lawmaking power: The NYC Council is the primary
Oldies but goodies: The value of long-term ownership in rent-stabilized assets - by Shallini Mehra
Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability
Properly serving a lien law Section 59 Demand - by Bret McCabe
Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.
.gif)