Inside Third & Bond: Week 176
The bloggers from The Hudson Companies dust off their keyboards this week for an update on how sales at the Gowanus development are going… We are enjoying another big moment in a journey of moments at Third + Bond: reaching 51% units in contract. Now all of our buyers with FannieMae and SONYMA loans can…
The bloggers from The Hudson Companies dust off their keyboards this week for an update on how sales at the Gowanus development are going…
We are enjoying another big moment in a journey of moments at Third + Bond: reaching 51% units in contract. Now all of our buyers with FannieMae and SONYMA loans can close. A half dozen buyers have been waiting for 51% so that they could fire up their lenders and attorneys. Closing these units means the buildings will be half full. The current occupants will have to stop wandering the halls in their pajamas.
When we broke ground on Third + Bond, we expected to make this announcement, well, long before now. Given the economy, we’ve revised our outlook to think this is still pretty good. In the three months since getting TCOs, we reached 51% sales. And we raised prices. We’ve sold from every floor plan studio, 1 beds, 2 beds, 3+ beds. As usual, we weren’t quite right in our betting on which unit would go first versus last. Hey, it doesn’t matter so long as there are buyers for each one.
The back half of sales is always easier than the first half. It’s like buyers need to have the comfort that someone else thought living there was a good idea. Spring has sprung for our buyers, as surely as the street trees have blossomed.
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Our legal fine print: The complete offering terms are in an Offering Plan available from Sponsor. File No. CD080490. Sponsor: Hudson Third LLC, 826 Broadway, New York, NY 10003.
I think they are very small units and not worth the money. I love the area, and the materials they chose for the outside of the building look good and seem to be in context with the rest of the neighborhood…….They should have gotten rid of the studio apartments and incorporated that space into the one or two bedrooms. I hate studio apartments, they seem like such a waste…..