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June 7, 2006
99 Gold (Finally) Hits the Market
After a few delays over at 99 Gold in Dumbo (er, Vinegar Hill), buyers are finally getting a chance to step up to the plate. Or make that free-throw line. Units at the 100,000-square-foot former toy factory are hitting the market on Thursday. Potential buyers of the building's 88 residences--which range in size from 672 square feet to 1,550 square feet--will also get a chance to shoot some hoops with Knicks legend John Starks on the building's private basement court while sipping a glass of pinot grigio at tomorrow night's opening bash. The standard apartments will start at about $550 a foot, we hear, and supposedly will be ready for occupancy in the Fall.
Developments [The Developers Group] GMAP
Postcard from Dumbo [Brownstoner]
Comments
It seems like a good price for the quality of the units. It is in egypt though. How far is it from the F train at High Street exactly? It seems like a hike.
Posted by: Shahn Andersen at June 7, 2006 10:02 AM
the 'A' train is High St. 'F' is York St - 2 blocks(longish) away. Not any farther ,maybe closer, than higher-priced Dumbo bldgs.
Posted by: Anonymous at June 7, 2006 10:10 AM
Oops. I meant the F at York. So why is it so cheap? I thought DUMBO had the highest priced condos in Brooklyn? I had seen some selling around $1000 a square foot.
Posted by: Shahn Andersen at June 7, 2006 10:21 AM
Maybe the projects and the electric plant a stone throw away?
Posted by: Anonymous at June 7, 2006 10:27 AM
I toured this building during the presale period, and the prices were mostly in the $700-800/sq ft range. A 670 sq ft studio on the second floor was priced at 470k and an approx. 730 sq ft 1-bedroom on the third floor was priced at 585k.
Posted by: Anonymous at June 7, 2006 10:41 AM
Brownstoner 'hears'- aka as rumor- prices start at about $550 sq ft. Lets wait to they post actual prices and see what average sq ft price really is.
Posted by: Anonymous at June 7, 2006 10:43 AM
We suspect that not all the apartments are that cheap. All we know is that the cheapest apartment is $370,000 and the smallest apartment is 672 sf.
Posted by: Brownstoner at June 7, 2006 10:44 AM
Wasn't there going to be an incinerator plant built in the area?
Posted by: Anonymous at June 7, 2006 11:08 AM
the projects are RIGHT next door
Posted by: anon at June 7, 2006 11:45 AM
yeah, you're walking past two blocks of projects every day to get to the F train. unless you walk a couple blocks out of your way. and the stores nearby are not the ones that make it onto the neighborhood maps in most sales brochures.
Posted by: chuck at June 7, 2006 12:49 PM
I'd say 1/2 block down not right next door from projects and one could walk down Front St. (bldg is corner of Front and Gold) which would be extra block (3 instead of 2 to subway) if someone didn't want to walk by projects.
Posted by: Anonymous at June 7, 2006 12:58 PM
This seems like straight up shilling on brownstoner's part. I mean, sipping pinot grigio and hanging with john starcks? How much did the lousy developers group pay you to say that? At least have the decency for a disclaimer!!
Posted by: Anonymous at June 7, 2006 1:01 PM
1.01,
You just demonstrated the adage that we see in others the qualities which we, ourselves, possess.
Two weeks ago Mr. B. was getting ripped by Ed for intentionally depressing Brooklyn real estate prices and now he's shilling for the Developers Group?
Some people.
Posted by: Anonymous at June 7, 2006 1:52 PM
I used to live on corner of gold and water...
projects are very very poor... cars get broken into all, and I mean all the time. Its getting a bit better though, still, I wouldn't move back.
Posted by: Anonymous at June 7, 2006 2:04 PM
The building is a little out of the way... right now that is. The distance from the subway isn't long at all, it's just that the walk is somewhat lonely and quiet... not much going on. Not necessarily a bad thing, but since the projects aren't too far, some people might not consider it safe. The desolation factor will change very soon however. There's another building being built on Front between Bridge and Gold st and if/when the 85 Jay site gets developed, the activity along that two block stretch on Front st will make the walk much more pleasurable. Remember... 99 Gold is not in dumbo... it's in vinegar hill... and vinegar hill has not been invested in to the extent that dumbo has. Over time, as properties get absorbed in dumbo... logically vinegar hill will start rolling. 99 Gold will be considered one of the pioneering buildings... with that said, I think the building should have pioneer prices. This building will not do too well if the prices are set at dumbo prices. But knowing typical greedy developers, it probably will be set high. I'm going to try to make it to the opening party... if I do, I'll report back.
Posted by: Anonymous at June 7, 2006 2:14 PM
re: shilling. This is useful news to those who are actively in the condo market and if you're not, well, the basketball court angle is kinda fun. Maybe we should be paying the Developers Group for providing something to write about. This post alone probably generated, oh, 11 cents in Google Ads revenue! We'll try not to spend it all at once.
Posted by: Brownstoner at June 7, 2006 2:31 PM
Oh brownstoner puuhhhlease!! It was part of the marketing program for this project to contact blogs. We all know that after the opening night, which you will be at, there will be another post on your blog regarding this project. Are you telling us you weren't contacted by the developers group? Oh, and it was the developers not the moronic marketers idea to have a basketball court.
Posted by: developer1 at June 7, 2006 3:03 PM
I think its a danger for your house or development to get featured on this site with all the critics around here.
I certainly wouldn't want the scrutiny.
Not that 1/2 the naysayers could ever afford to buy all they are dismissive of.
Posted by: Anonymous at June 7, 2006 3:21 PM
Anyone who knows Brooklyn even halfway well knows the projects next door are dangerous. I wonder how sales will go if someone gets mugged on the way to preview a new loft space. Be warned, this is not a safe block whenther it is $550 or $750 a sq. ft.
Posted by: Anonymous at June 7, 2006 3:48 PM
Anyone who knows Brooklyn even halfway well knows the projects next door are dangerous. I wonder how sales will go if someone gets mugged on the way to preview a new loft space. Be warned, this is not a safe block whether it is $550 or $750 a sq. ft.
Posted by: Anonymous at June 7, 2006 3:48 PM
As I said - get mentioned on this site on your property will get trashed.
Posted by: Anonymous at June 7, 2006 3:58 PM
Or get featured and try to convince people their fabluous loft space will be free of crime and danger. Be reasonable, dumbo is one thing, taking up residence next to dangerous projects known for drug trade in entirely another.
Posted by: Anonymous at June 7, 2006 4:05 PM
I live in the nabe and have been here for almost 3 yrs. I think it'll be fine to walk to 99 Gold St., and no I don't work for the Dev.Group. I toured the building a couple weeks ago and if I had more money, I'd probably buy one of the condos! Plus, I happen to love playing basketball. Finally, I am actually surprized that there aren't more breakins in this area...just a handful that I know about. I think the party tomorrow night will be fun.
Posted by: gidget at June 7, 2006 4:25 PM
Why are there concrete pillars on the basketball court? It is like Shaq constantly setting a half-court pick. That thing looks like a lawsuit waiting to happen.
Posted by: Anonymous at June 7, 2006 5:43 PM
Amen 5:43 - that basketball court had to have been designed by someone has never played a full court game. An absolute disaster.
Posted by: Anonymous at June 7, 2006 5:52 PM
Amen 5:43 - that basketball court had to have been designed by someone who has never played a full court game. An absolute disaster.
Posted by: Anonymous at June 7, 2006 5:52 PM
Sorry about the double post folks.
Posted by: Anonymous at June 7, 2006 5:54 PM
Seriously, the dimensions are way off. Look how close the opposing free throw lines are.
Posted by: Jeff at June 7, 2006 6:10 PM
RE: Anon 2:14 and pioneering buildings/condos in the area, there are already three condo buildings with folks living in them in the DUMBO/Vinegar Hill nabe near 99 Gold. There are the 50 Bridge St. condos, 79 Bridge St. condos and the condos at the end of Front Str. and Hudson Ave. a block away. There is also a bldg with rentals a block away on Water St. So this area already does have many people living in it, not to mention 'the projects' and the brownstones in the neighborhood.
Posted by: Anonymous at June 7, 2006 7:09 PM
RE: Anon 2:14 and pioneering buildings/condos in the area, there are already three condo buildings with folks living in them in the DUMBO/Vinegar Hill nabe near 99 Gold. There are the 50 Bridge St. condos, 79 Bridge St. condos and the condos at the end of Front Str. and Hudson Ave. a block away. There is also a bldg with rentals a block away on Water St. So this area already does have many people living in it, not to mention 'the projects' and the brownstones in the neighborhood.
Posted by: gidget at June 7, 2006 7:10 PM
Ok Gidget, now we know who you work for. 50 Bridge and 79 Bridge are on the other side of the world compared to 99 Gold. And mind you, 50 Bridge sold for 450 a/ft. Just go by the projects to one of the stors across the street during the day and you tell me you would want to buy a condo close to all that drama. It's down right scary!!
Posted by: Anonymous at June 7, 2006 7:50 PM
...ah, it all brings back memories: summer 1980, walking to Hudson Avenue to check out an apartment. going past the farragut houses, someone threw a beer bottle against the wall above my head, showering me with broken glass. got to the building and just kept walking, via a different return route. ran into a transit cop at the F train station and asked him about crime. he told me that there was a cop 24/7 in either the york street or high street station. moved to gowanus instead; might have been the first person to call it that, but I was trying to be cute.
Posted by: Anonymous at June 7, 2006 10:22 PM
Everytime I go to dumbo there is police presence, so I've always felt safe. Someone even told me that dumbo has it's own neighborhood security patrol. Perhaps the police and security should move up a few blocks to vinegar hill...
Posted by: Anonymous at June 7, 2006 11:10 PM
The Navy Yard edge of Vinegar Hill has one of the only remaining clusters of early 19th Century working class residences in all of Brooklyn. There will be an inevitable gentrification of this and the entire waterfront area as the eastward push of development from Dumbo meets these charming streets. Like in Chelsea, life in the projects will rise along with the tide of the area and the level of crime will no longer resemble what it once was.
Posted by: rascal at June 8, 2006 10:36 AM
I live on Gold btwn Front and Water, about 200ft from 99 Gold St. Have lived there for three years and have not once been harassed, mugged or otherwise been a victim of intimidation or crime (except a Gutman truck backing into me and fleeing the scene - another story all together). I’ve heard of isolated incidents and some car break ins but not more so than hearing about them in Fort Greene or Prospect Heights. I actually had my car broken into three times when I lived in Greenpoint near zero projects over 4 years. Admittedly I generally avoid the projects, unless im waiting for the B61 or going to the Fine Food store but I imagine tha 99 golders will do pretty much the same, well at 550+ a sq ft maybe they wont be slumming it like me. Aren’t there major projects over in Carroll Gardens and Boerum Hill right next to $1.5M townhouses?
Posted by: Anonymous at June 8, 2006 1:26 PM
Anonymous at June 7, 2006 07:50 PM: Hi again, it's me gidget. Sorry to burst your little racist bubble. I live very close to Farragut and frequent Fine Foods Supermarket at least 4x/wk. It's mostly fine, but skip the broccoli...it's usually a little brown. Anyway, no I don't work for the Dev.Group; I am a very informed and active resident in the nabe and I am working to make it a better place in which to live. Like I said, if I had the money I would buy one of the condos in this project...I like the 'P' line best...nice water view! Maybe you should schedule and appt an see for yourself.
Posted by: gidget again at June 8, 2006 9:25 PM
I went to the opening party tonight and the building is actually veeerrry nice. The windows are wonderful and the roofdeck has breathtaking views. Only the 4th floor was open today, but even certain units on that floor had great views. IMO the basketball court is small, but nonetheless cool. I would consider buying in the building (projects and all) if the prices were slightly lower. The units averaged $700/sqft.
btw... Corcoran took the opportunity to advertise their new project (the Vista) a block over (between bridge and gold). The signs are up and with all the incoming traffic to the 99 Gold party... it was certainly noticed. Let's see how this one turns out.
Posted by: Anonymous at June 8, 2006 10:55 PM
99 Gold has the worst location. Dead across the street from Farragut. I live nearby and the noise during the summer is at times-criminal. It is also very dirty on Gold street. Tons of chicken bones all over the street from the wings at the Chinese restaurant. Nice finishes but you wouldnt want to spend anytime in your apartment so what difference does it make. Just ask the owners at the Toy Factory, also directly across the street from PJs.
Posted by: Anonymous at June 10, 2006 3:16 PM
Today was my first day checking out developments in any area, so I was in DUMBO and I enjoyed my day. 99 Gold - best one I saw, quality wise and view wise. Worst location. Some of the views are quite fantastic, although I was on the 4th floor - I suspect 2nd floor would suck and I think the views toward the projects aren't great.
It is 5 minutes walk from the F train. And thats the F train. A guy asked me for money outside the building, but when I told him I didn't have any (which was true, and I told him while approaching him rather than running away) he was actually quite nice.
That said, fantastic high ceilings, better finishes than in a new Boymelgreen building I saw and a Two Trees building that I saw (70 Wash with crappy bathroom tiles and non soundproof windows)
Posted by: Anonymous at July 9, 2006 10:00 PM
Does anyone know anything about the fire. Was it is 2004 or was there a more recent one? I am looking into the building.
Posted by: Beto at July 18, 2006 1:12 PM
Hi everyone
I have set up a group for contract holders at 99 Gold Street. Please join to share information on closing and the development.
Paste this link into your browser and email me for an invite (mariaegan@mac.com)
groups.mac.com/goldstreet
Thanks
M
Posted by: Maria C at February 3, 2007 8:43 AM
anyone hear any udpates on when 99 gold will be able to get their paper work sorted out and inspections done? any ideas on closing?
Posted by: ray at February 20, 2007 5:24 PM
Why are brooklyn people so angry? Is it because they cant afford to live in Manhattan? You people need to chill and be happy that gorgeous developments like this are going up in rather undesireable neighborhoods. Everytime something different goes up in a brooklyn neighborhood everyone not only overreacts, but feels the need to bash it immediately. I think 99 Gold is a fabulous addition to this neighborhood and anyone who is lucky enough grab one of these units will be sitting pretty...
Posted by: valentina at March 3, 2007 12:04 PM
99 GOLD has cheap finishes, marble counters are in two pieces with seam line at the sink, no medicine cabinets, pre-fab floors and some of the worst layouts I have ever seen. The bedrooms couldn't fit a queen-sized bed.
Posted by: Anonymous at March 4, 2007 5:02 PM
I saw 99 Gold this week. I thought the finishes were typical, but it's weird that construction is still going on. People were supposed to move in months ago and the laundry still isn't finished...what's up with that.
Posted by: Sam at July 24, 2007 8:47 AM
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