The Moinian Group Grows in Brooklyn

The Moinian Group is one of the largest private developers in the United States, with a portfolio that has spanned more than 20 million square feet over the last 35 years representing every major property type. Their various activities have included developing, redeveloping, and investing in properties in some of the nation’s largest markets, including Los Angeles, Miami, and Dallas.

New York City, however, is where The Moinian Group calls home, and has its largest concentration of properties, including more than 4 million square feet of commercial and residential space along 11th Avenue alone.

But New York is a city of boroughs and neighborhoods, no two of which are exactly alike. Yet given The Moinian Group’s tremendous portfolio and reach, it was only in 2019 that they ventured outside of the island of Manhattan and into Brooklyn.

Their first Brooklyn venture was PLG, a 26-story, 467-unit, ground-up luxury residential property at 123 Linden Boulevard in Prospect Lefferts Gardens, the nexus of the Prospect Lefferts Gardens and Flatbush neighborhoods.

As the tallest new development in proximity to Prospect Lefferts Gardens, and in conjunction with Bushburg Properties, the 229-foot, 469,000-square-foot tower capitalizes on its scale with impressive views of Downtown Brooklyn, Manhattan, the Verrazzano Bridge, and nearby Prospect Park, located just minutes from the property. PLG is already 50 percent leased, with almost all of the leasing activity done virtually during the pandemic.

Now fully entrenched in Brooklyn, The Moinian Group is bringing to market 1428 Fulton Street, a ground-up residential development in  Bedford-Stuyvesant, conveniently located just off the A and C trains.

Designed by respected firm Karl Fischer Architects, 1428 Fulton features a timeless aesthetic that seamlessly blends the historic charm of Bedford-Stuyvesant with contemporary design features such as a gracious lobby with an open-air courtyard, and elevators.

This project includes 132 high-end residential units encompassing 133,000 square feet of one-bedroom and studio apartments throughout 14 floors. Tenant occupancy is anticipated by year’s end and requests for space tours have already begun, most of which will be handled virtually, while others will be done on site following the most up-to-date safety protocols.

Located just a block away from the Atlantic Avenue corridor,1428 Fulton also includes some 12,000 square feet of premier retail space at the base. The Moinian Group is actively pursuing a food and beverage tenant to anchor the space, expanding the neighborhood’s shopping options.

With its unique array of untouched Victorian architecture and tree-lined streets, Bed-Stuy is a sprawling, peaceful oasis in New York City. This quintessential Brooklyn neighborhood has become home to young professionals and artists attracted to its unique combination of historic late-19th-century feel and thriving, lively cultural scene where new restaurants and shops rise among legendary local favorites.

“Brooklyn is a thriving, eclectic borough that attracts some of the most creative minds and hardest workers,” said Joseph Moinian, founder and CEO of The Moinian Group. “Now more than ever it’s important to deliver high-quality residential projects in the outer-boroughs where people can live well and safely, with neighborhood amenities that improve their quality of life.”

And, with more projects in the pipeline, this is just the beginning of The Moinian Group’s growing presence in Brooklyn.

“We have forged wonderful relationships throughout Brooklyn with communities who appreciate the quality of product we deliver and our commitment to every neighborhood we enter,” Joseph Moinian said. “We’re looking forward to the next phase of our Brooklyn expansion.”