Co-living startup Common is launching its biggest project to date, taking over Adam America’s entire 69-unit rental development 595 Baltic Street in Boerum Hill.
The new location’s size and layout indicates that Common [TRDataCustom] is more aggressively taking on $16.9 billion behemoth WeWork and its WeLive co-living line.
Common Baltic will open in January, according to the project’s website, which went live today. Like Common’s other locations in Crown Heights and Williamsburg, the new building will offer customers the chance to rent rooms in shared apartments. But unlike its other locations, Common Baltic will also offer studio ($2,835 a month and up) and one-bedroom apartments ($3,295 and up). This moves its model closer to WeLive, which offers both studio apartments and shared rooms at Rudin Management-Owned 110 Wall Street.
In a statement, Common said it hopes the new building “opens the door for developers interested in Common as a property manager.”
In June, Common raised $16 million in a new venture funding round, after raising $7.35 million last year. The firm’s backers include firms tied to the LeFrak, Milstein and Mack Families. It started out with co-living spaces in Crown Heights walkups, but earlier this year announced its first location in a new development at 248-254 South Street in Williamsburg.
Adam America filed plans for the nine-story, 51,893-square-foot building at 595 Baltic in 2013.