Belltel Lofts: 50% Percent Sold

Guess they managed to survive the loss of MTV's Real World Crew. Looks like half of of the units in Downtown Brooklyn's 250-unit Belltel Lofts have been snatched up, according to The Real Deal yesterday, and they're available for immediate occupancy. The units from Phase I of sales average 1,252 square feet and range from studios to two-beds. Phase II, now on the market, includes studios to three-bedrooms and 600 to 2,700 square feet. The prices, per the Elliman Web site range from $625,500 to $1.89 million.
The Belltel Lofts [Douglas Elliman] GMAP

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Wait a minute... you mean to tell me when I went there several months ago and they told me all they had available were the crappy layout apartments with no windows in the 2nd bedrooms, they actually did have 2 bedroom apartments coming online that have windows in all the rooms? Freakin' realtors! I would have seriously considered one if they told me they had true two bedrooms available. F them!

Posted by: BrooklynSteve at November 20, 2008 9:52 AM

After how long on the market? Hardly "snatched up"! And there is no tax abatement yet, heating issues etc. Not a good news story over there right now.

Posted by: BH76 at November 20, 2008 10:00 AM

In a couple of months you will be able to get a 1,000 SF apt in this building for $350,000 - $400,000. This will be the hardest hit of all of the downtown brooklyn new condo buildings. It's a really beautiful exterior though.

Posted by: Make My Heights the P Heights at November 20, 2008 10:09 AM

brooklynSteve - are you a minority? You may have a case against them if you are.

Posted by: dittoburg at November 20, 2008 10:11 AM

Why would this building be the hardest hit of all downtown brooklyn?

Posted by: Bazil at November 20, 2008 10:18 AM

Phase II, 600 square feet, for $625K, is that a joke?

Posted by: fishermb at November 20, 2008 10:20 AM

Many of the units in this building are actually long studios -- one window -- no legal bedrooms -- or 1200 sg ft with only one legal bedroom. Long dark spaces. Will be tough resales compared with all the surrounding new buildings with legal bedrooms.

Posted by: BH76 at November 20, 2008 10:26 AM

I've been inside this building and one of the apartments.

The quality of the apartment itself is horrendous. I mean like cheap rental horrendous.

The exterior is beautiful, but I would not spend money on one of these units. They are really really cheaply constructed.

You can hear EVERY sound from next door and above.

Posted by: 11217 at November 20, 2008 10:48 AM

I wouldnt buy anything from The Bracha Group, the Elliman team selling the BellTel. They always come into projects that are failing but never seem to produce. As a buyer, if they're selling it's a sure sign the development is a disaster.

Posted by: bklynbricks at November 20, 2008 6:49 PM

Actually, the tax abatement has been approved. I think the bad reviews of this place are really over blown. Many of the units have nice layouts and plenty of light/windows.

Posted by: Bklyn2008 at December 5, 2008 1:42 PM

The bad reviews are pretty overblown. I came to take a peek at the building and what they have to offer and it is actually MUCH nicer than what I've been hearing on blogs such as this one. If I'm not mistaken, the smallest unit they have to offer from Phase II is in fact 900 Sq. Feet and they only have 2 or 3 of those. Most are much larger and they have some units that are in the $600-$650 per Sq. Foot range. I wouldn't go by hearsay, I would check it out myself before deciding to pass on the building...

Posted by: DowntownismyHometown at December 8, 2008 3:04 PM

the floor plans for this place seem sub-optimal given the space. for some reason the developer wanted more bedrooms instead of truly stunning open living rooms. less is more on occasion. webid 1022691, is an 850K studio, surely they could have done better even just by removing the "home occupancy" room closest to the kitchen.

Posted by: chortik at December 23, 2008 3:54 PM

« Public Plaza for Downtown Brooklyn Who Says There's No Credit! »

November 20, 2008

Belltel Lofts: 50% Percent Sold

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