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We finally took a tour of One Brooklyn Bridge Park and were very impressed with the size, layouts and design of the apartments. After a slow start (it’s the prices, stupid!) the waterfront development has been building some solid sales momentum in recent months. At this point, the building is 44 percent sold if you include contracts that are “out”. After some major reductions last August (when some one-bedrooms got as low as $325,000), prices appear to have found an equilibrium point: mini-lofts and one-bedrooms now start at $480,000, two-bedrooms at $935,000 and four-bedrooms at $2,275,000. The building is currently about 8 percent rented from, though sales are going well enough now that the developer is no longer offering new rentals. With the development of Brooklyn Bridge Park continuing to move along, we suspect the building will continue to be increasingly attractive to prospective buyers.
One Brooklyn Bridge Park Picking Up Steam [Brownstoner]
Price Cuts at 1 Brooklyn Bridge Park [Brownstoner]
Renting 1 BBP: ‘We Would Like Things to be Different’ [Brownstoner]
Rentals, Price Cuts and Loan Extension at 1BBP [Brownstoner] GMAP