Super-Luxury Red Hook Condos Selling Like Hotcakes
Incredibly, more than 50 percent of the apartments at ultra-luxury Red Hook condo building 160 Imlay are in contract less than a month after sales launched. Construction on the conversion of the warehouse started in June, and is expected to wrap in 2016. On the first of this month, listings went up for 10 units, and now there are…
Incredibly, more than 50 percent of the apartments at ultra-luxury Red Hook condo building 160 Imlay are in contract less than a month after sales launched. Construction on the conversion of the warehouse started in June, and is expected to wrap in 2016. On the first of this month, listings went up for 10 units, and now there are 49 units listed on StreetEasy, all of which are in contract. The building has 70 units altogether but no available units are listed online. BuzzBuzzHome was the first to report on the sales.
Prices range from $862,875 for an 885-square-foot one-bedroom to $5,397,840 for an 3,831 square foot one-bedroom. (There are also studios, two-bedrooms and three-bedroom units.) Est4te Four is the developer and Aldo Andreoli of AA Studio is the designer. The interiors preserve some of the industrial details of the warehouse, which was one of the first cast-in-place concrete buildings, such as concrete beams and high ceilings. The units feature extra-large triple-paned windows to take advantage of the views. There are wide plank oak floors, white matte lacquer Italian kitchens, and appliances by Miele. Douglas Elliman is handling the sales. The building is in the flood zone.
Any theories as to why these are going so fast?
160 Imlay Website [160 Imlay] GMAP
New York Dock Building Conversion 160 Imlay Is Selling Fast [BBH]
Listings Go up for Red Hook Conversion [Brownstoner]
Rendering via Douglas Elliman
Love the building and the finishes are top notch but the monthlies are insane.
i heard almost all activity is pre-sales to insiders
I think the project looks really nice, but this kind of sale velocity at those prices just doesn’t pass the sniff test…
If you look at the floorplans for the sold units it looks like they may have been sold as unfinished open loft space. Only a few of them show interior walls / bathrooms / kitchens / residential layouts. Not sure what that is about.
Some of the units on the 5th and 6th floors are being sold as raw spaces because the reality is at those prices, those buyers are going to rip everything out and customize it anyway. Units on the 3rd and 4th floor will be finished.
It’s a gorgeous waterfront property with finishes and amenities as high-end as One BBP and the Pierhouse, but at lower prices per square foot. It’s an amazing, historic building in a hot neighborhood that finally looks like it’s about to tip. It’s right on the waterfront greenway path, which is likely to keep getting greener and parklike, especially as buildings like this spring up along it. Those views. That roof deck.
Also, sales didn’t really start a month ago. Many of these went into contract over the summer before the listings hit the website. Mine did.
Lol. Well done.
http://bit.ly/1tiC4Go
Just called and emailed agent. Took a few tries, but we were persistent.