Alloy Development and The Vistria Group have closed on $535 million in financing to launch One Third Avenue, the second phase of the Alloy Block in Downtown Brooklyn. Rising 730’, 62 stories, the project is designed to be the tallest Passive House building in the world and will introduce 583 new residences, including 153 permanently affordable homes with rents starting at $1,023 per month. The tower’s six-story base will offer 60,000 square feet of Class A office space, while 30,000 square feet of community-oriented retail will activate the streetscape along Third Avenue. The project also incorporates the restoration of two 19th-century structures, blending historic preservation with cutting-edge sustainable design.
Expanding on Alloy’s pioneering work with 505 State Street, New York’s first all-electric skyscraper, and 489 State Street, home to the city’s first Passive House public schools, One Third Avenue continues the firm’s commitment to sustainability at scale. The tower’s Passive House design will feature a tightly sealed façade, oversized operable windows to maximize natural light, and advanced ventilation systems that deliver filtered fresh air for healthier living. By linking the energy use of its residential and office components, the building will recycle waste heat to further enhance efficiency. Positioned on the western edge of the Alloy Block, the development represents a bold step toward reimagining urban living with a balance of affordability, modern design, and environmental responsibility.
Renderings via Alloy Development