In 2015, JLL, the real estate investment management company, secured $21 million from Santander Bank for ASH NYC, LLC’s project to convert the Dannenhoffer’s Opalescent Glassworks factory into a modern apartment complex in Bushwick, Brooklyn.[1] The glass factory was founded in 1888 by German immigrant John Dannenhoffer who was one of the first “pioneers in producing and manufacturing opalescent glass.”[2] Dannenhoffer’s son took over the family business, but after he passed away in the 1920’s the building was sold to other industrial manufacturers, such as Howard Lomazow’s Security Bag Company. [3] Today the factory is being re-developed by ASH NYC and JV Partner Martin Lomazow and is expected to be complete in 2018.
ASH NYC is re-developing the glass factory into a 77,000 square foot apartment building. The 63 units (including studio, one, two, three-bedrooms and penthouses) will be starting at $2,500 to $3,800 per month. How will this site attract New Yorkers? The building has been carefully curated to combine both luxury amenities and preserve and redevelop the brick walls and high ceiling beams. The expansion from the original brick on both sides of the building is designed with large windows creating optimal light exposure. Many of the units will also have outdoor spaces. Luxury amenities include state of the art appliances, community areas and work spaces, a fitness center, private study rooms, a rooftop pergola, sundeck and yard. The building will also be equipped with a tenant portal, virtual doorman and secure electronic key lock box.
The repurposed factory, located at 336 Himrod Street, is in a thriving neighborhood where developers have continued to maintain a balance between protecting the area’s rich history and creating modern residences. Residents have been attracted to the area’s culture, art and cuisine. The new development is close to a myriad of shops, eateries and gyms. Although the best way into the city is via the L train (which will be shut down for renovation in 2019) the Myrtle Avenue Line is also easily accessible.
ASHY NYC “[value] the extensive and unique history of the building and choose to highlight its original identity while adapting its functionality to serve today’s and tomorrow’s New Yorkers, cementing its futurity for centuries to come.”[4]
For images of the new space, click here.
[1] Real Estate Weekly. (July 1, 2015) “JLL Secures $21M Construction Finance for Bushwick Glassworks Redevelopment.” Real Estate Weekly. Available at: http://rew-online.com/2015/07/01/jll-secures-21m-construction-finance-for-bushwick-glassworks-redevelopment/. Accessed on Dec. 13, 2017.
[2] Glassworks History. Available at: http://glassworksbk.com/history.html. Accessed on Dec. 13, 2017.
[3] Ib.
[4] Ib.