The Collective expands in NYC with $90m double deal

The Collective has acquired two sites in New York City for $90m (£68m), bringing its total portfolio end-value to £1bn. After launching in the US at the end of last year with 555 Broadway in Brooklyn, the co-living developer and operator has now made two acquisitions in two weeks. Its second purchase is the site of the former Slave Theater at 1215 Fulton Street, Brooklyn, for $32.5m (£24.5m). Chief executive and founder Reza Merchant said: “We are committed to continuing the community-centred legacy of the Slave Theater, which once stood on this site. “Integral to what we will create at 1215 Fulton Street