Quarters to open Brooklyn developments

George Sell George Sell Uploaded 16 January 2020

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US: Coliving operator Quarters has announced plans for two further properties in Brooklyn.

Founded in Germany in 2012, the company already has sites in New York City, with 111 beds in sites at 324 Grand St. in Manhattan’s Lower East Side and 629 E. Fifth St. in the East Village, and 84 being built at 1190 Fulton St. in Bedford-Stuyvesant, Brooklyn.

This week it announced another 160 beds for a 50,000-square-foot site comprising two buildings at 186 N. Sixth and 165 N. Fifth streets in North Williamsburg, and 46 beds at 251 Dekalb Ave. in Fort Greene.

“We’re thrilled to continue growing our US footprint in New York City,” said Quarters CEO Gunther Schmidt. “New York, particularly Brooklyn, draws young tech and creative entrepreneurs with its vibrant community culture. At Quarters, we provide that same culture through a mix of amenities and programming in deluxe living accommodations at a more affordable price than market rate.”

The North Williamsburg location is being developed by Duke Equities, and will feature a 5,000-square-foot landscaped roof deck with views of Manhattan and Brooklyn, a lower-level recreational room and entertainment area, office and social spaces, a library and a gym. The Fort Greene building will feature an outdoor patio and courtyard.

Quarters offers private bedrooms with shared bathrooms and kitchens, on flexible leases. The news comes shortly after combined funding rounds of around $1.4 billion for its US and European expansion. The company aims to add 1,800 new units in the US over the next three years and 6,000 to Europe over the next five years.

 

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