At last week’s Real Estate Roundtable held at the Brooklyn Historical Society, developer and film industry entrepreneur Doug Steiner gave an update on his 80 Metropolitan project that jibed pretty closely with what we gleaned last month. According to Steiner, “about 25%” of the 114 units have sold, with studios and one bedrooms proving the most popular so far. (“Same old story,” he said.) Other than March, which was “awful,” sales have been pretty steady. Based on the signed contracts, studios, one bedrooms and two bedrooms are selling for about $800 a foot; penthouses for about $1,000 a foot. The typical buyer, says Steiner, is in his or her early 40′s and moving from Manhattan. Apartments aren’t the only thing being sold either: Cabanas are now going for $150,000 a pop; parking spaces have had four price increases, from the original $40,000 to the current price of $50,000.
Development Watch: 80 Metropolitan [Brownstoner] GMAP P*Shark
80 Metropolitan Listings [Halstead]
80 Met Townhouses Hit the Market [Brownstoner]
Development Watch: 80 Metropolitan Avenue [Brownstoner]
80 Metropolitan Taking Expressions of Interest [Brownstoner]
Live, Hot Demo at Old Dutch Mustard [Brownstoner]