NEW YORK CITY-Rental season is continuing to ramp up across the East River, sources tell GlobeSt.com. A former 1920s-era Brooklyn warehouse will now be home to a 42-unit loft apartment at 44 Berry St. in Williamsburg, while aptsandlofts.com will begin leasing a 17-story glass luxury rental tower at 163 Washington Ave. in Clinton Hill.

ING Clarion Partners acquired the 54,000-square foot Berry Street building for $27 million, the company confirms in a statement. The site, located next to McCarren Park, includes six retail businesses on the ground floor and is fully leased.

Edward Rotter, managing director at ING Clarion, tells GlobeSt.com that the location and market here is “highly desirable” right now. “One of the reasons that we were attracted to the market in New York City is because the rental market is becoming much tighter,” Rotter says. “We are starting to see significant effective rent growth, primarily because there is not much new construction,” he says, noting that space is “rapidly being taken or absorbed” in Brooklyn.