• IBEC Building Corporation

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    55 Broad Street 16th Floor

    New York, NY 10004

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  • To contact IBEC Building Corporation about available apartments, please see the individual listings for phone and/or email information, as it may vary by building.

About IBEC Building Corporation

 The IBEC Development Team has its roots in Fort Greene beginning in the early 1980's and has established a record of successful and pioneering projects in the neighborhood. Of notable achievement was the historic rehabilitation of a turn of the century apartment building (The Portland) at the corner of South Portland Avenue and Fulton Street in 1985. This 45 unit, $3.5 million development spurred the revival of Fulton Street in the vicinity of the Brooklyn Academy of Music. In 1988, the Development Team was awarded a large scattered site in Prospect Heights/Crown Heights under the auspices of HPD's Vacant Building Program. The rehabilitation of 146 units of low and moderate income housing in 25 buildings was completed in two phases in 1990 and 1992 in partnership with Nikos Kefalidis of KLM Construction, Inc.

In 1998, the Development Team, in partnership with John Frezza of Strategic Construction Corp., embarked on the $14 million rehabilitation and adaptive reuse of the Historic Clermont Avenue Armory in Fort Greene. Completed in 2000 with bond financing from HDC's New Housing Opportunities Program (NHOP), the Clermont Armory Towers consists of 111 apartments targeted to middle income New Yorkers. A Charter School and a 110 car indoor parking garage are also included in the development. Its proximity to Myrtle Avenue provided a powerful boost to the successes of the Myrtle Avenue Revitalization Project (MARP). The building was selected as the best in the residential category in the Brooklyn Chamber of Commerce's Building Brooklyn Awards in 2001.

 The project included the construction of an apartment building known as State Renaissance Court along Schermerhorn Street containing 158 rental units (completed) and up to 45 market rate town house condominium units along State Street in Boerum Hill (Phase II). State Renaissance Court was financed with $35 million in Tax Exempt Bonds issued by the NYC Housing Development Corporation under the auspices of HDC's Mixed Income Program. 30% of the units are targeted to low and moderate income households as required by the Urban Renewal Plan. An additional 20% of the units are targeted to middle income households, and the remaining 50% at market rents. This harmonious mix of household incomes in a full service luxury building has become a model throughout the City for mixed income development.

When completed in August of 2007, State Renaissance Court became the first new building completed on Schermerhorn Street since the 1960s, and its opening launched the transformation of the Street to a thriving residential and retail corridor. Today, many new residential and hotel projects are in various stages of construction and Schermerhorn Street is fast becoming one of Downtown Brooklyn's premier residential streets connecting the neighborhoods of Fort Greene, Boerum Hill and Brooklyn Heights. The development team paid special attention to nurturing the creation of a healthy retail strip along Schermerhorn Street by attracting innovative retailers such as "Brooklyn Fare" a gourmet grocery store and "Brooklyn Kitchen" a unique dining experience. State Renaissance Court was awarded the Brooklyn Chamber of Commerce's Building Brooklyn Award in 2008 in the large scale affordable housing category. 

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