Rendering ONE15 Brooklyn Marina/ Image credit: SUTL
NEW YORK CITY— ONE15 Brooklyn Marina, an accessible quay between Pier 4 and Pier 5 in Brooklyn Bridge Park, opened on Monday. The eight-acre site at the East River is New York City's first new marina to open in 50 years. Singapore-based conglomerate SUTL Enterprise, led by chairman and CEO Arthur Tay, developed its $28 million project.
The multifaceted quay offers more than 100 berths at the New York Harbor basin.
“We were pleased to partner with Brooklyn Bridge Park and the City of New York to develop this outstanding marina, which will revitalize recreational boating in New York City and contribute to the abundance of waterfront amenities for the community and local properties,” says Tay.
City, state and federal agencies worked with the owner's operations team to help ensure compliance with regulations, moratoriums and access to subway tunnels. The designers integrated the marina into the landscape while also maintaining open-view corridors to South Manhattan.
In addition to the docks, the marina added a sail club and school and is creating a harbor club. SUTL states ONE15 brings luxury boating to those coming for the recreation, as well as open access to people without boats. In responding to the 2014 RFP which sought to develop the waterfront, the marina has a community dock. ONE15 is donating 2% of its annual revenue to support the nonprofit, public community dock.
The developer points out their value-add enhancements will boost neighborhood property values while transforming the use and enjoyment of the waterfront. RAL Development's 30-story luxury waterfront condominiums, Quay Tower at 149 Bridge Park Drive, is likely to benefit from the marina's development.
This is SUTL's first venture in the US. The conglomerate is in 18 markets in Asia, focusing on consumer goods and leisure. Their ONE15 brand manages marinas across Asia including one that also just broke ground in Puteri Harbour, Malaysia.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
