Sterling Town Equities submits condo plan with 41 units in Boerum Hill

On October 5, a condominium plan was submitted by Sterling Town Equities for 41 residential units at 533 Pacific Street in Boerum Hill, Brooklyn. The development site has an alternate address of 546 Atlantic Avenue.

The condo plan, CD210282, does not have a sellout price listed with the New York State Attorney General. Paul Amit and Yossef Ariel are listed as the principals. The founder of the company is Yossi Ariel.

The developer purchased the site in the summer of 2018 for $28 million. According to reports, the developer received a $15 million mortgage on the building from Israeli institution Bank Hapoalim.

In June of 2019, the developer filed new building plans with the city’s Department of Buildings calling for the construction of a 124-foot tall, 11-story, 67,851-square-foot residential building with 41 dwelling units at the property.

Yimby released a series of renderings of the development late last year.

Per the plans, the ground floor of the building will have retail space, community space, recreation space, and one dwelling unit. Floors two and three will each have six dwelling units per floor, floors four and five will each have five dwelling units per floor, floors six through eight will each have four dwelling units per floor, floors nine and 10 will each have three dwelling units per floor, while the 11th floor will have two dwelling units. The roof will have recreation space. The cellar will have an exercise room, reading room, and a kid’s room.

The plans were permitted in January of this year.

Issac and Stern is the architect.