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March 12, 2009

Checking In On The Oro

the-oro-0309.jpg
How many units are still available at The Oro? That's a very good question, and one we posted to the team at Douglas Elliman in charge of selling them. Unfortunately, they refused to tell us, failing to recognize that obfuscation doesn't fly in this era of transparency. They referred us to StreetEasy, which has a breakdown posted here. According to StreetEasy, 159 units have been sold and another 63 are in contract, for a total of 222 units spoken for. Since there are 303 units in the building, and in the absence of any guidance from the brokers, we can only conclude that there are 75 units still available.
Price Cuts at the Oro [Brownstoner] GMAP
Closings Begin at Oro [Brownstoner]
Oro Closings Becoming a Reality [Brownstoner]
Price Cut at the Oro [Brownstoner]




Posted by Brownstoner at 11:01 AM | Comments (12)
Categories: Condos, Downtown Brooklyn

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Comments

Here let me help you.

"How many units are still available at The Oro? "

80% are available and with prices reductions.

"Unfortunately, they refused to tell us, failing to recognize that obfuscation doesn't fly in this era of transparency."

No! Up is down, black is white, truth is lies....

The What

Someday this war is gonna end...

Posted by: Return of The What at March 12, 2009 11:07 AM

lol

Posted by: randolph at March 12, 2009 11:11 AM

seems like the only constant with "randolph" is to support The What.

One might think we have a double ID here.

Posted by: Prodigal_Son at March 12, 2009 11:16 AM

Of those 159 listed as "sold", about 40 of them are labeled as "off market" and thus not really sold at all.

Another one of those is a listed as a storage room, and another has no unit number at all.

Posted by: SnarkSlope at March 12, 2009 11:16 AM

I can't imagine anyone coming to look at units here, not seeing Toren next door and immediately ditching any plans to look at Oro. It's so clearly a better looking, better priced and I'm guessing better constructed building.

Once Toren came on the scene, Oro was dead in the water.

Posted by: 11217 at March 12, 2009 11:18 AM

What's up Randolph! I hope you have your blast suit on, LMMFAO!

These places are future Low-Income housing.

The What

Someday this war is gonna end...

Posted by: Return of The What at March 12, 2009 11:26 AM

Until the deeds are recored on ACRIS, I wouldn't trust anything these brokers say.

I agree with you 11217. This place built under the assumption people would take anything. Penny wise and pound foolish...

Posted by: Polemicist at March 12, 2009 1:06 PM

is the lesson that properties built during downturns is better quality while properties built during boomtimes tends to be done quickly with as many corners cut as possible?

Posted by: slick at March 12, 2009 3:39 PM

"They referred us to StreetEasy..."

Speaks volumes. Assume 50% sold. Developers wouldn't even wipe their asses with contracts these days.

Orental by summer...

***Bid half off peak comps***

Posted by: Brownstones Half Off at March 12, 2009 3:47 PM

I did read somewhere that most developers break even at about the 40-50% sold mark.

So if that's the case, BHO....while it's not great news, it certainly isn't the end of the world.

They'll just convert the remaining to rentals, if need be.

Posted by: 11217 at March 12, 2009 4:43 PM

> "I did read somewhere that most developers break even at about the 40-50% sold mark."

Awfully hard to get a mortgage for a unit in a building with low sales like that, is it not?

Posted by: SnarkSlope at March 12, 2009 4:55 PM

Dude. How do you run this story and say nothing about plans for the pit across the street?

Posted by: BrooklynLove at March 12, 2009 8:43 PM

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