Real Estate News

Toren Tower Completed, Brooklyn's Newest Residential High-rise

(BROOKLYN, NY) -- Toren, Downtown Brooklyn's most distinctive new residential tower, has passed several important milestones resulting in a successful completion. With the Temporary Certificate of Occupancy (TCO) in place, new residents have begun settling in to their intelligently and artfully-designed new homes and taking advantage of the buildings' many amenities. Most recently, Toren received approvals from both FHA and Fannie Mae, making it easier for potential buyers to obtain financing and ensuring prompt closings and move-ins.

"We've been planning Toren with the greatest of care, detail and love and it's a thrill for us to see it come to life," said Joseph Ferrara, a partner with Donald Capoccia and Brandon Baron at BFC Partners, Toren's developer.  "We're very excited to welcome new neighbors into these beautifully conceived and completed residences, and we're delighted that we can assure potential buyers that they can be confident about receiving financing and closing when they opt to buy a home in Toren, which is now available for immediate occupancy."

Toren recently unveiled two fully-furnished model units, both two-bedroom, two-bathroom homes on the 20th floor of the 38-story tower, where the building's new sales and marketing office is now located, as well as an art gallery showcasing the work of talented local artists on a rotating basis.

The model homes have Brazilian Walnut Ipe flooring throughout and boast spacious kitchens with seamless custom cabinetry, Asko washer and dryers, Liebherr Refrigerators, and Electrolux wall ovens and cooktops. Walk-in showers and luxurious Zuma bathtubs grace the large master bathrooms, and the expansive living rooms afford inspiring views of lower and midtown Manhattan, greater Brooklyn cityscapes, iconic bridges, New York Harbor and the Atlantic Ocean.  Brooklynite designers Erika Stahlman and Priya Patel chose the stylish décor for both models, utilizing sleek, modern pieces from some of the borough's most popular local design retailers including The Future Perfect, Fresh Kills and MC & CO.

Located at 150 Myrtle Avenue, the 240-unit condo is 50% sold and includes studios, one-two- and three-bedroom apartments ranging in size from 442 to 1,967 square feet. The top eight floors of the tower consist of eight one-bedroom penthouse units and 24 duplex penthouse units of two- and three- bedrooms, featuring two-story living rooms and spectacular views from floor-to-ceiling windows.

Enveloped in unique silver-blue aluminum and glass façade designed by globally renowned Skidmore, Owings & Merrill (SOM), Toren was named winner of three 2008 CNBC Americas Property Awards including Best Condominium New York, and Best High-Rise Architecture USA for its innovative and thoughtful green design. In 2009, the building was also selected a winner of the 2009 Design Excellence Awards presented by Multi-Housing News.

On track for Gold LEED certification, Toren features its own on-site cogeneration plant-- one of the first in a NYC residential tower. The five, fully-functional, 100 kiloWATT generators are now fueling the building's electrical, heating and cooling needs by capturing waste heat and putting it back into residential use while lowering the burden on the utility companies.

"We are deeply committed to Green Building, and are thrilled for Toren to be fully powered with its own efficient micro-turbines," said Donald Capoccia. "Implementing the complex cogeneration system at Toren has been very important to us, and it is one of the buildings many unique features. Its completion is a remarkable feat, and a huge step towards reaching our sustainability goals."

Other green features of the building include its curtain wall, which is compliant for heat retention. Dark-coated glass contrasts with lighter glass panels, making the building not only energy efficient, but visually spectacular. Toren is equipped with Energy Star appliances, and occupancy sensors to optimize lighting usage in all building common areas. Low-VOC paint, coatings, sealants, adhesives, carpets and outdoor air ventilation through the building's mechanical system improves the indoor environmental quality of each individual unit without ever needing to open a window.

Toren is just steps away from major mass transit including numerous bus lines, over a dozen subways, and the LIRR. The building is a mere two subway stops to Union Square; Manhattan a short five-minute drive over the Manhattan Bridge.

In addition to living by green standards, residents will find value in a host of amenities including a multi-level roof garden; an outdoor screening area; a 2,000 square-foot fitness center with comprehensive recreational programming and a stretch center, an indoor swimming pool, locker rooms, and sauna; a library; a two-level attended parking garage; and a 24-hour attended lobby.

"Value was a major motivation in the building and design of Toren, and we're proud to deliver a building that offers an incomparable comfort and convenience, along with award-winning design and high standards of green living," said Capoccia.

Toren's iconic architecture has re-defined the Brooklyn skyline -- the glittering tower visible from the air, water, bridges and roads. On the forefront of green urban developments, Toren offers a new angle on modern living. Prices start from the mid-$300s through $1.7 million with 25-year tax abatement, and the building is ready for immediate occupancy.

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