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35% pre-leased, 58x marketing ROI for market-rate apartments

30 Kent
30 Kent

Client

Client

Client

BNS Real Estate, WonderWorks Construction

Project Brief

Project Brief

Project Brief

30 Kent Street is an 80 unit ground up, mixed-use rental building on the Greenpoint waterfront. The 56 market rate apartments range from studios to 3 bedrooms - priced $3,000-$10,000/mo.

30 Kent Street is an 80 unit ground up, mixed-use rental building on the Greenpoint waterfront. The 56 market rate apartments range from studios to 3 bedrooms - priced $3,000-$10,000/mo.

30 Kent Street is an 80 unit ground up, mixed-use rental building on the Greenpoint waterfront. The 56 market rate apartments range from studios to 3 bedrooms - priced $3,000-$10,000/mo.

Skills

Skills

Skills

Pre-development planning Brand Identity Content Creation Renter Funnel for Lease-Up Integrated Leasing with DMT

Pre-development planning Brand Identity Content Creation Renter Funnel for Lease-Up Integrated Leasing with DMT

Pre-development planning Brand Identity Content Creation Renter Funnel for Lease-Up Integrated Leasing with DMT

Team

Team

Team

Marketing Creative Director Data Analyst

Marketing Creative Director Data Analyst

Marketing Creative Director Data Analyst

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Problem

Problem

How to differentiate in the highly competitive Brooklyn sub-market

How to differentiate in the highly competitive Brooklyn sub-market

Challenges

Challenges

  1. Six competitive buildings in the local area were also in lease-up

  2. The location was still "up and coming" and not as well known as Williamsburg

  3. Project was still under construction during tours and lead generation

dark radial gradient background

Problem

How to differentiate in the highly competitive Brooklyn sub-market

Challenges

  1. Six competitive buildings in the local area were also in lease-up

  2. The location was still "up and coming" and not as well known as Williamsburg

  3. Project was still under construction during tours and lead generation

Solution

Solution

Solution

Our differentiated marketing strategy resulted in a lease up that exceeded revenue targets by +21%

Our differentiated marketing strategy resulted in a lease up that exceeded revenue targets by +21%

Our differentiated marketing strategy resulted in a lease up that exceeded revenue targets by +21%

During our competitive analysis, we uncovered an opportunity to differentiate 30 Kent Street's amenity programming and create sub-identities for the amenity spaces. This was in stark contrast to the "laundry list" of amenities that our competitors marketed.

Our market analysis revealed renter's confusion between Kent Ave in well-known Williamsburg and Kent Street in Greenpoint. During early construction, we launched a guerilla brand awareness campaign on the streets of Brooklyn and Lower Manhattan to create awareness about Kent Street, Greenpoint.

We mapped out a 9 month renter's journey with key activation points - first access lead generation, hard hat tours of the model, unit reservation (pre-lease) and then lease signing.

Guerilla Marketing

Guerilla Marketing

Guerilla Marketing

Guerilla Marketing

Guerilla Marketing

Guerilla Marketing
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Results

Results

Results

58x Return on Marketing Spend

58x Return on Marketing Spend

58x Return on Marketing Spend

The Funnel

The Funnel

The Funnel

1067 Leads

1067 Leads

1067 Leads

217 Tours

217 Tours

217 Tours

(20% lead to tour conversion)

(20% lead to tour conversion)

(20% lead to tour conversion)

56 Signed Leases

56 Signed Leases

56 Signed Leases

(5.25% lead to lease conversion)

(5.25% lead to lease conversion)

(5.25% lead to lease conversion)

Results

Results

Results

30

30

30

of units pre released prior to launch

of units pre released prior to launch

of units pre released prior to launch

* 10% higher than our target

* 10% higher than our target

+$90

+$90

+$90

/ppsqft at full occupancy through the lead generation program

/ppsqft at full occupancy through the lead generation program

/ppsqft at full occupancy through the lead generation program

* $20 higher than our target

* $20 higher than our target

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