In October 2017, The VOREA Group acquired a sizeable 108,000-square-foot development site at 45-57 Davis Street for $21 million. According to The Real Deal, who first reported the deal, the pre-existing warehouse that housed a family-run woodworking company, would be demolished for a new rental development of roughly 150 units. Earlier this year, Vorea filed construction permits to build a nine-floor, 158-unit rental building at the site. J Frankl/Charles Mallea is leading the design and newly-published renderings show a no-nonsense exterior of dark brick, gridded windows and balconies.
The DOB filings show there will be a recreation room, game room, laundry room, fitness center, children's playroom, and a common lounge. The exterior rendering also indicates there will be a landscaped roof deck. Several apartments on the top floor will be duplexes. Floors below will average 19 apartments per floor.
VOREA's site overlooks the elevated 7 train and is directly south of Pearson Court Square built by L+M Development Partners in 2014. The attractive 15-floor rental is topped by a pair of wind turbines and has studio apartments renting from $2,133/month and a two-bedroom at $3,667 month.
Aerial view of the site via LoopNet.com
Across Davis Street from the project site is the massive redevelopment of 5Pointz, the destroyed street-art mecca where graffiti artists could freely paint along with a series of low-rise warehouses for more than two decades. Now the long-time site's owner, David Wolkoff, has erected a towering pair of vanilla towers where there will be 1,115 apartments between then, 20% of which will be rented at below-market rate rents. Along the project’s lower levels will be 20 artist studios, 40,000 square feet of retail, and a public parking garage for 262 vehicles. Amenities will include a climbing wall, a swimming pool and a private park between the towers. Leasing should begin in the coming months.
VOREA's previous residential projects include Eleven33 in Greenpoint and C-560 in Park Slope. The 2009-founded company which has "an active pipeline of developments throughout the metropolitan area," according to the company website, is also planning a nine-story, 83,000-square-foot commercial building nearby at 23-20 Jackson Avenue.
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