New Building | 57 Stories | 481 Units | Spring 2021 Closing
11 Hoyt is one of the rare ultra-high-end projects in lower Brooklyn, New York, and that’s its biggest advantage. The developer, architects, interior design, and construction team are all first-rate, and the result is the only high-end residential building on a full lot in lower Brooklyn. Brooklyn’s housing prices and environment have been improving, and until 11 Hoyt, the area lacked an ultra-high-end residential option. As a result, demand for 11 Hoyt has been overwhelming, and both prices and rents have remained very high.
Studio price: from $675,000
1-bedroom price: from $930,000
2-bedroom price: from $1.25 million
3 bedroom price: from 1.9 million
4-bedroom price: from 3.4 million
Basic information
Brand new building
57 floors
481 units
Spring 2021 Delivery in progress
Mostly 1 to 3 bedrooms (and very few studios and 4 bedrooms)
Architect Introduction
Studio Gang
Founded by MacArthur Fellow and Harvard University Professor of Practice Jeanne Gang, Studio Gang is an architecture and urban design firm dedicated to creating innovative new buildings, such as Chicago’s award-winning Aqua Tower, to enhance public spaces. The firm’s current projects include residential buildings in Los Angeles, San Francisco, Chicago, Toronto, and Amsterdam, the new U.S. Embassy in Brazil, and an expansion of the American Museum of Natural History in New York City. The studio’s work has been widely recognized and exhibited, including at the Venice Biennale of Architecture, the Art Institute of Chicago, and the Museum of Modern Art.
Jeanne Gang has been a popular architect in recent years, and her specialty is wavy facades, as seen in the Mira in San Francisco, CA and the Aqua Tower and Vista Tower in Chicago, IL.
Facilities
This building occupies the entire block (street), so the facilities are very good. The advantage is that most of the units are medium to large, so although the building is 66 stories high, there are not many units and the facilities are very well organized.
Most of the premium gym memberships in New York are around $150-$200, so this kind of high-end facility is very attractive to landlords, tenants, and owner-occupants. Many of the tenants I have found for my own investment clients are couples, couples, or co-tenants, and for them, a higher rent to offset the gym membership fee is a great deal.
High-end gyms
Squash Room
Pilates and yoga rooms
Heated pool
Sauna + Jacuzzi + Steam Room + Private Treatment Room
Business Room + Meeting Room + Leapfrog Double-height Multipurpose Room + Outward Bound Kitchen
Children’s Playroom
Pet Spa Room
Bicycle storage room
Indoor Washer and Dryer + Laundry Room
Parcel Room + Refrigerator + Doorman + Elevator + Parking + Storage Room etc…
Location
11 Hoyt is located on the border of Downtown Brooklyn and Boerum Hill. If we want to break it down, Downtown Brooklyn is more commercial, while Boerum Hill is more residential. I think it’s acceptable to be located at their intersection, whether it’s a home or an investment from a location perspective.
The main reason is that this building is very conveniently located next to 9 subway lines (2, 3, A, B, C, D, F, Q, R) which are all reachable within 5 minutes walk. I believe that the surrounding environment will continue to improve in the future, and the location of 11 Hoyt and the future improvement of the surrounding environment is worth looking forward to.
Personally, I think the west and southwest 25+ floors of this house should be considered first because only the southwest 25+ floors have a unique water view, and it is worth considering the east 20+ floors.
View
There are many tall buildings in lower Brooklyn, but 11 Hoyt’s location is quite advantageous because most of the front of the building is restricted in terms of plot ratio and height, so the view of 11 Hoyt is quite open as long as the west, north and south sides are over 25 stories.
Interior
Studio Gang’s design is inspired by Brooklyn’s unique villas and incorporates them into their signature wave architecture.
The interior design is divided into two tones of stone and material, one light and one dark, and the layout is very square and simple. In terms of small details, I think the development team is very attentive. Among many Brooklyn buildings, 11 Hoyt’s quality is very high, and in the same price range, 11 Hoyt’s quality and materials should be considered the highest.
The kitchen has custom cabinetry designed by Michaelis Boyd Associates, custom plumbing fixtures, and a quality Bosch appliance package. I personally feel that 11 Hoyt has taken more care in the bathrooms, which feature hand-glazed ceramic wall tiles, Italian white Calacatta marble floors, and custom oak vanities and bronze hardware.
Pros
Convenient access
Great views from the 25th floor
Overall building design, amenities and interior design with care
Excellent architectural and engineering team/very high quality of architecture and interiors
The surrounding living environment continues to improve
Super quality facilities
Very high demand in the rental market (high return on investment)
Disadvantages
Neighborhood could be better (Boerum Hill is actually very nice)
Lower floors facing south can be noisy (bus lines)
Conclusion
9.5/10
For buyers who want a more residential environment, they may want to consider other areas, but for those who need to commute to lower Manhattan or several areas in Brooklyn for work/school, 11Hoyt is a great choice.
Ideal for students at PACE, Parsons, NYU, Baruch, SVA, FIT, and other down town and Brooklyn schools.
It’s a good choice for working people in Midtown and Downtown.
Overall I think 11 Hoyt is a very recommendable project, no matter the quality of the house or the overall design and planning are definitely the top class in recent years, and his rental return, building quality are very impressive.
