Some Traction at One Brooklyn Bridge Park?

Some sales news about One Brooklyn Bridge Park, via Curbed...A press release from the development's marketing team suggests that the recent round of large price cuts may be having the desired effect: "In less than one month, the building has signed 12 new contracts and eight contracts out." Not too shabby.

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Comments

I'm glad to see this. Price cuts are key, but I think people are also realizing that the park is really going to happen and be amazing.

Posted by: Atlantic Frantic at October 20, 2009 10:50 AM

At that rate they will all be sold in a little over 2 years.....which from what I understand is when the financing runs out.

Posted by: Brokedeveloper at October 20, 2009 11:20 AM

A little perspective. 12/300 = 4% of remaining units sold. Roughly 25% totally sold.

Sounds like hydroplaning to me. Skweeeeeeesh!

***Bill Thompson for Mayor***

Posted by: Brownstones Half Off at October 20, 2009 11:53 AM

...excuse me, 4% inked, not sold! Same can probably be said for the total.

***Bill Thompson for Mayor***

Posted by: Brownstones Half Off at October 20, 2009 11:54 AM

I want this building to succede, so I guess I am glad to see units are moving after the price reductions. But I think the prices are still too high. The cheapest unit right listed now on the 1BBP site, $325,000, is a smallish studio that looks across the light well to more of the building. For another $145,000, you can get a studio that is fifty percent larger, but looks out on to the BQE. These still seem like crazy prices to me.

Posted by: altervoce at October 20, 2009 2:16 PM

altervoce - 10 years ago, brownstones there used to be not too far from $325K. Now they want this for a studio?! Some of us are still high on the Ponzi economy that is slowly unraveling.

***Bill Thompson for Mayor***

Posted by: Brownstones Half Off at October 20, 2009 2:57 PM

we have more of a real estate finance problem than a pure real estate problem..... banks lend too much then too little

Posted by: chrishavens at October 20, 2009 3:34 PM

"too little" is not the problem. It's the correction.

What exactly is a "pure real estate problem"?

***Bill Thompson for Mayor***

Posted by: Brownstones Half Off at October 20, 2009 3:59 PM