NEW YORK CITY-With demand steadily increasing for new luxury rentals in Downtown Brooklyn, a joint venture between real estate investment firm the Naftali Group and global investment advisor AEW Capital Management have closed on a 90,000-square-foot development site at 316 Bergen St along the borough’s rapidly gentrifying Third Avenue corridor, GlobeSt.com has confirmed. The JV plans to develop an 85-unit luxury apartment building on behalf of AEW Partners VI, LP, the sixth in the firm’s series of opportunistic real estate funds.

A source close to the deal tells GlobeSt.com that the JV is currently negotiating a construction loan with a domestic bank for the luxury apartment building, which upon completion, will include an attended lobby, a tenants-only lounge, a fitness center, 45 parking spaces and a washer/dryer in every unit. Sources say ODA Architecture has been tapped to design the building.

A source says that rents in the building will average around $50 per square foot, and studios will start at $2,000, one-bedrooms at $2,700 and two-bedrooms around $3,500. And while the price of the site sale was not disclosed, Real Capital Analytics lists it as $6.7 million, which was previously owned by Goldport Properties LP.