RESIDENTIAL

Prospect Lefferts Gardens High-Rise Draws Tenants With Manhattan-Style Amenities

Crain's New York Business | February 17, 2020

At 26 stories and 318 feet, the recently opened apartment tower at 123 Linden Blvd. looms large over its slice of Brooklyn Few buildings in the area make it much past 7 stories—and starting on 123 Linden's eighth floor, residents can see clearly to Manhattan.

The tower, dubbed PLG, is one of the pricier new developments in the Prospect Lefferts Gardens-Flatbush borderlands. Starting rents, accounting for a threemonth-free discount, are $2,126 for studios, $2,667 for one-bedroom units, $3,495 for two-bedroom units and $4,518 for three-bedroom units.

High as they might seem, these rents are generally less expensive than those farther west in Brooklyn, in enclaves such as Park Slope, Williamsburg, Greenpoint and Prospect Heights. The median rent in the borough was $2,991 in December, appraiser Miller Samuel found.

PLG, moreover, has an amenities package unique for the immediate vicinity. It includes two pools, a fitness center, a coworking lounge and concierge services.

Move-ins started in December, and leasing started a couple of months earlier. At least a few dozen apartments are spoken for, said Jacob Entel, director of residential properties for the Moinian Group, which developed the tower with Bushburg Properties.

Entel said the tower has drawn many tenants from Brooklyn. Some want to be near the SUNY Downstate Medical Center-Kings County Hospital, a few blocks to the northeast, he said, while others want to be near Prospect Park.

"We're seeing a lot of people come from within the neighborhood—areas like Park Slope, where it's still pricier, but a lot of the product is old," Entel said.

Newer residential buildings in the area, although not nearly as tall, include 200 Linden Blvd. —where active listings start at more than $2,100 a month for onebedroom units, according to Streeteasy—and 88-92 Linden, a condo project under construction that hasnt started sales. These fresher projects are changing the streetscape of where Flatbush meets the Prospect Park orbit.

The buildings at 88-92 Linden and 200 Linden, for instance, replaced structures that included low-rise single-family houses; 123 Linden itself replaced a 4-story nursing home.