The Toren had its first closing last week two days before Thanksgiving, according to public records that just became available. The unit in question was a 1,033-square-foot two-bedroom on the 19th floor. It hit the market in March 2008 for $725,000 and went into contract within a month for the asking price. In related news, since deals like that are a thing of the past, The Toren has decided to try to get in on the FHA action. “I think the FHA approval will help with the buyers who were initially only looking to put 10 percent down,” Roberta Benzilio, executive director of sales in Brooklyn for Halstead Property, told The Real Deal. “Some people don’t have the cash available.” Another stat from the Real Deal article: about half the units are in contract.
Toren Seeks FHA Financing, Closings Expected [TRD]