Instrata Expands Luxury Footprint in Brooklyn

By Veronica Grecu, Associate Editor

Invesco Real Estate’s collection of luxury rental buildings in New York City just gained another V.I.P. building located in Brooklyn’s hip Gowanus neighborhood.

Instrata Park Slope – Brooklyn

The former Arias Park Slope rental building at 150 Fourth Ave. is now part of the Instrata Lifestyle Residences family, marking the luxury rental portfolio’s fifth property in New York City and seventh nationally.

“The neighborhood is lively yet residential and comfortable, and the building is perfectly outfitted to meet our high standards,” said Rob Neiffer, director at Invesco Real Estate.

Completed in 2010 by the Iconic Group, the 12-story building was designed by architect Ismael Levya and features expansive windows and a brick façade that blends with the neighborhood’s historic atmosphere. In 2011, the apartment building was transferred to Dallas-based Invesco Real Estate for an undisclosed amount, as previously reported by Real Estate Weekly.

Now redubbed Instrata Park Slope, the property comprises 95 units, including studio, one- and two-bedrooms, most with balconies and terraces. The list of amenities includes a 24-hour attended lobby, fitness and wellness center, residents’ lounge, laundry and dry cleaning, on-site parking, pet spa, storage units, and a roof deck with 360-degree view of the Manhattan skyline, Verrazano Bridge, Prospect Park and Barclays Center.

Instrata Park Slope is managed by Adellco Management. The building is currently 98 percent leased, with prices starting from $2,995 per month for a studio, $3,300 per month for a one-bedroom and $4,700 per month for a two-bedroom.

Image via Instrata Park Slope