Tishman Speyer receives TCO at 11 Hoyt Street, a condo with $826M sellout

Tishman Speyer, on November 12, was issued its initial temporary certificate of occupancy for a project with an initial Department of Buildings estimate at $268.8 million project to convert a five-story parking garage to a 480-unit, 613,388-square-foot condominium at 11 Hoyt Street in Brooklyn Heights. The development with an $826 million sellout, had its condo declaration recorded earlier this month.

The DOB plans, pre-filed on December 11, 2015, call for the increase in the size of the building from an 80-foot tall, five-story, 75,835-square-foot structure to a 591-foot tall, 52-story, 613,388-square-foot building. The time from pre-file to TCO was four years and 11 months.

The project is described in the filings as: reducing existing five-story parking garage to a one-story building. Construction of 52-story residential new building. The initial cost as reported in the DOB filing for the work described in this permit application is $268.8 million.

The new development has several amenities, including laundry, a pet care room, game room, pool, exercise room, squash court, meditation room, amenity decks, and lounges. The condo units begin on the third floor, and continue to the 51st floor. Units include duplexes on the third and fourth floors.

The building was designed by Studio Gang, with Hill West Architects listed as the architect. Michaelis Boyd Associates was in charge of internal design, according to reports.

Unit prices start at $690,000 for studios and range up to approximately $3.5 million for a four-bedroom.

The last time the property sold was January 2016, for $52.96 million

Direct link to Acris document. LINK

Direct link to DOB document. LINK

Direct link to C of O document.LINK