190 Fulton rendering Brooklyn

February 11, 2019 Comments Off on Medici Brings Quarters Co-living to Bed-Stuy Views: 1508 New York News, Outer Boroughs New York

Medici Brings Quarters Co-living to Bed-Stuy

Medici Living Group’s Quarters co-living brand is coming to Brooklyn, with a ground-up development in Bedford-Stuyvesant. The owner and developer of the site, Bawabeh Realty Holdings, is set to break ground in March on the eight-story, 30,000 square-foot building at 1190 Fulton St.

The Bed-Stuy location is the first to be announced since Medici completed a $300-million fundraising for its U.S. expansion. “Bringing our co-living product to Brooklyn was a no-brainer,” said Gunther Schmidt, founder and CEO of Berlin-based Medici.

“Young people, particularly those working in the tech and creative industries, want to be in Brooklyn, in an environment that engenders a vibrant community culture,” Schmidt continued. “At Quarters, our residents get that community culture, as well as deluxe amenities, at a price 10% to 20% percent more affordable than a standard studio in the same neighborhood.”

The brokerage arm of Crown Acquisitions assisted Medici in the transaction.

Connect With Medici

Subscribe to Connect Daily New York

For comments, questions or concerns, please contact Paul Bubny

Tags: ,

Comments are closed.