Brooklyn Buyers Dominating On Prospect Park Sales
It’s been a while since we checked in with ye olde OPP. So how’s it been going? According to the sales office, the House that Richard Built is 30 percent sold, more than had been expected at this stage (move-in’s not ’til Fall 2008). There was a cocktail party last week at which recent buyers…
It’s been a while since we checked in with ye olde OPP. So how’s it been going? According to the sales office, the House that Richard Built is 30 percent sold, more than had been expected at this stage (move-in’s not ’til Fall 2008). There was a cocktail party last week at which recent buyers got to mingle with bigwigs from the nearby cultural institutions. (Just think of all the potential donations!) Perhaps the most interesting fact we learned was that most purchasers have in fact been Brooklynites, clearly not what the developer Mario Procida anticipated given his decision to locate the marketing office in Tribeca. Does it surprise you that Brooklyn buyers are leading the charge? As for current pricing, there are a number of units listed on Corcoran (including this $6 million rock star pad) at per square foot prices of between $1,500 and $2,000. Quite something, then again there’s nothing like it.
On Prospect Park Listings [Corcoran] GMAP
I am eagerly awaiting seeing the many expensive items in full display adorning these apartments while biking by.
Yes, the mansion tax alone on the rock star apt. will be ~$60k. And the abatement won’t last forever.
PLGfan – what would be interesting to know is what the developer had to promise in order to qualify for the abatement. presumably there is some obligation to build subisidized housing somewhere in the city, no? Anyway while I think you’re right about the incongruity of providing tax relief for $6M apts, it is worth noting that whenever that apt does sell, it will generate enormous tax revenue via transfer taxes.
Also, whatabout window washing as the windows will become dingy over time. This may be a good thing as it will tone down the glass and make the building resemble its neighbors a bit.
I am so relieved that the taxes on the $6,000,000 apt is at the startingly high rate of $47 per month. I wouldn’t want to think that the rich were getting welfare at the public expense.
The city is so perspicacious in seeing that it doesn’t take tax benefits to build super luxury housing on Prospect Park.
i disagree with most of the posters above. i live a couple blocks from here in an apt. in a brownstone and old architecture is definitely my “thing” in terms of where i want to live, but i think this building is really quite beautiful. i’ve watched the progress as i walk by it every day and i do believe the reason it is taking a while is because it is constructed quite well and with that many windows the precision involved with the glasswork has to be 110%.
i don’t understand how those of you who love brooklyn could denounce this building in such a fashion, despite the fact that you may not enjoy the architecture of it.
this is a great addition to brooklyn. a great architect of our time has chosen to build something in a formerly empty lot at the top of one of the most beautiful parks (i’ve ever seen) and it is selling. that is good news no matter how you slice it.
I’m still laughing at “Putnam Square.”
Good one, putnam-denizen!
All shades/blinds need to be white in the side outside/can have any color on the inside.
Building Rule!
My question is why on earth would it take another 18mo till people can move in