346 east 29th
address 346 East 29th Street, Brooklyn, NY
project details
7 Stories
Sq Feet
66,000 sq. foot
aerial view
aerial view
map view
map view
After sustaining severe fire and water damage, the property sat on the market for well over a year with no developer seeing a chance of salvaging the existing structure.

The limitations on a new construction project would significantly reduce the property´s value. With its skilled team of experts and associated consultants, the Marcal Group was able to confidently purchase the property at well below market value, developing a rehabilitation plan that would not only bring the building back up to par but reposition it as an ultra-modern 65-unit multi-family that was fully compliant with current codes and standards. In under 18 months, The Marcal had the entire building reconfigured and completed. In under three months, the entire building was occupied. This project highlighted the company´s ability to work around challenges and compliance hurdles in a manner that few other can. Shortly thereafter, the building was sold off at approximately $262 per square foot.