R&E Represents Lendlease With Major Brooklyn Waterfront Development

by | Apr 7, 2023 | Industry Updates

Rosenberg & Estis, P.C. attorneys Daniel M. Bernstein and Nicholas DiLorenzo are proud to have assisted Lendlease in commencing its innovative new development at 1 Java Street, Brooklyn. Upon completion, 1 Java Street will be an 834-unit new construction all-electric building powered by the largest residential geothermal system in New York State. R&E is pleased to have assisted 1 Java Street with closing on an Inclusionary Housing Regulatory Agreement with NYC HPD and vesting for the critical 421-a property tax exemption, which together will provide 1 Java Street the ability to bring approximately 251 affordable units to the community. 1 Java Street’s innovative geothermal system required HPD to approve a special utility allowance to account for the highly energy efficient utility system. R&E looks forward to 1 Java Street providing NYC with a major new residential building in a beautiful waterfront location and with significant amenities for residents and for the public.