Last time we checked in on the Pencil Factory a few months ago they were selling units at “pre-completion” prices, and the deals were proving compelling: 24 of the 93 units sold within less than a month. A broker tells us construction is going smoothly and they expect to begin closing early this fall. He also says almost 50 units have been spoken for, with about half closed and half in contract. Pretty solid. StreetEasy shows that most units got a price chop before they sold, with a one-bedroom priced at $418,000 going into contract after dropping to $376,000 and a $730,000 two-bedroom pad reduced to $657,000 before being taken.
Pencil Factory 25 Percent Sold [Brownstoner]
Pencil Factory Back in Business [Brownstoner] GMAP