Editors note: This is the first all electric skyscraper in NYC.
7:30 am on August 28, 2025 By Max Gillespie
Alloy Development and The Vistria Group have closed on $535 million in capital for the construction of One Third Avenue, the second phase of the Alloy Block in Downtown Brooklyn. Designed to be the tallest Passive House building in the world at 730 feet, the 62-story mixed-use tower will deliver 583 market-rate and affordable housing units, retail, and office space. One Third Avenue follows 505 State Street, New York City’s first all-electric skyscraper, and 489 State Street, home to the city’s first Passive House public schools. The property is bounded by Flatbush Avenue to the north and east, State Street to the south, and 3rd Avenue to the west.
153 of One Third Avenue’s 583 units will be permanently affordable, with rents starting at $1,023 per month. The building’s six-floor podium will include 60,000 square feet of Class A office space, with residences spanning floors 11 to 60. Notably, the development integrates the adaptive reuse of two 19th-century structures along State and Schermerhorn Streets and introduces a new retail building along Third Avenue with 30,000 square feet of community-oriented retail space.
The project’s Passive House design includes an airtight building envelope, oversized operable windows for natural light, and filtered fresh air for improved indoor air quality. Residential and office components will share energy systems to reduce waste heat.
Nearby transit options include the A, C, G trains at the Hoyt–Schermerhorn Streets station; the 2, 3, 4, 5 trains at the Nevins Street station; and the B, D, N, Q, R, 2, 3, 4, and 5 trains and the LIRR at the Atlantic Avenue–Barclays Center transit hub.