Pierhouse Sells out First 12 Units in One Weekend, Rakes in $44 Million
This past weekend, Toll Brothers launched 12 units for sale at Pierhouse in Brooklyn Bridge Park and “sold them all” immediately! The prices were “well above the original pro forma,” a tipster told us the real estate firm said on its quarterly earnings call. The total sales price for all 12 was “about $44 million,”…
This past weekend, Toll Brothers launched 12 units for sale at Pierhouse in Brooklyn Bridge Park and “sold them all” immediately! The prices were “well above the original pro forma,” a tipster told us the real estate firm said on its quarterly earnings call. The total sales price for all 12 was “about $44 million,” a Toll Brothers executive said.
The firm said it plans to put seven more units on the market this week. “We…believe we will immediately sell them all,” our tipster quoted the exec as saying.
The joint venture with Starwood Capital includes 192 hotel rooms as well as 108 condos with river views in the park. Construction started in 2013 and is expected to finish by summer 2015. Marvel Architects is the architect. Toll Brothers has “an interest list of several thousand people” for the units.
Rendering by Marvel Architects Via Curbed
At the expense of NYC tax payers with tax abatements that should be stopped for this kind of development.
If buyers can afford these prices, they can afford to pay full Real estate taxes, that are after all deductible off their Federal Income tax bill.
Stop Tax abatements for “luxury Housing”.
Didn’t know what you were talking about but I looked it up. Is this what you mean?
(Scroll down to Scenic view district)
http://www.nyc.gov/html/dcp/html/zone/zh_special_purp_bk.shtml
and
http://www.nyc.gov/html/dcp/pdf/zone/art10c02.pdf
Lots of info.