MeadowWood at Gateway

1019 Van Siclen Avenue, Brooklyn, NY 11207
East New York/Brooklyn
791,000 square feet
August 2006
May 2015

MeadowWood at Gateway is a 19-building apartment complex in Brooklyn, New York, consisting of 1,152 units. Taconic acquired the 983 unsold condominium units at the property as a result of a failed auction, and the acquisition involved the resolution of several complex ownership, legal, and financial challenges. The complex was constructed as a multi-family rental between 1964 and 1966, and in 1991 a partial condominium conversion plan was enacted.

Taconic repositioned the property by implementing a capital improvement plan that included replacing roofs, windows, and terrace doors, modernizing elevators, upgrading the entrance lobbies and common corridors, renovating the laundry facilities, redesigning the landscaping, and constructing a new playground. As units became available for sale, each received a kitchen, bath, and flooring upgrade to create modern, attractive apartments. Sales commenced in 2007, and the property was stabilized as attractive workforce housing for middle-income families. In August 2009 the complex was named the top selling Brooklyn condominium by The Real Deal. A majority of the units were sold to unit purchasers, and in 2015 the unsold units were sold to an investor. 

MeadowWood at Gateway

MeadowWood at Gateway exterior