Impressively, all of the 30 renovated apartments in the six-story corner building located at 326 South 1st Street were reserved just one week after leasing began, according to Mr. Mermelstein, a principal of TreeTop Development. Triangulum features completely redesigned two-bedroom rental homes with upscale appointments such as modern baths and kitchens and hardwood floors.

"At Triangulum, tenants enjoy the perfect blend of old world charm and the latest in luxurious amenities," says Mr. Mermelstein. "An intensive rehabilitation effort has not only recreated the apartments themselves, but also totally modernized lobbies and common areas.

"With an influx of new development in Williamsburg, there has become a significant lack of affordably-priced rental homes. Judging by its success, Triangulum apparently goes a long way towards easing the demand by offering new artsy-designed apartments in a renovated building at attractive rents."

Triangulum will also offer 1,650 square feet of ground-floor retail space with 65 linear feet' of frontage which is now available for leasing.

The main focus of the Triangulum's renovated interior design was to upgrade the visual look and feeling of the apartments and common spaces, Mr. Mermelstein points out.

"Renovations included stripping the hallway floors to return them to their original luster," Mr. Mermelstein points out. "We also removed plaster to expose the original brick. We took out the entire staircase in the central lobby and replaced it with a unique steel construction that provides a sleeker, more modern silhouette. And we added various accessories and amenities to bring the building more in tune with the surrounding residential addresses."

Treetop Development has also begun similar renovations at a six-story rental building at 188 South 3rd Street in Williamsburg. When combined with the Triangulum, the rehabilitation programs will introduce more than 40 new one-, two- and three-bedroom apartments to the Brooklyn neighborhood.